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EUR/USD sets technically negative close

Yesterday the EUR/USD was the subject of some spot month end re-balancing and that saw the Euro fall to a new 2024 low at 1.0796. That low came after the Euro busted below the previous 2024 low at 1.0813 and it was right on the 4pm London fix. The rebound that followed was consistent with a 4pm Fixing order and once the order was done and dusted. So, the Euro recovered into the US close, reaching 1.0841. However, it was not able to sustain that move into the close, when ending the session at 1.0833. Hence, it closed below its 200 day moving average, in place then at 1.0843.That moving average is still edging lower and in place this morning at 1.0842. That has been the exact high seen earlier today too. So, as you can see it was tested during the Asian session, but so far a rise above there has been rejected and the EUR/USD has backed off again. It is currently trading at session lows, now at 1.0812

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