EUR/USD sets a weekly close underneath 200 day moving average

Well, it was hardly a positive end to the week on Friday for the EUR/USD. The Euro closed in the US at 1.0808 after falling to a session low at 1.0802 after the European close. That close was also underneath its 200 day moving average, at 1.0839. In fact, that was the first such close since the beginning of March. The lack of traction, given the fall in US yields was not good news for Euro bulls. The 50 day moving average (now at 1.0841) is also very close to dropping below that 200 day moving average too, which if happens is not technically good either. The price action seen during the Asian session today has been covered by a low once again set at 1.0802 and a high so far at 1.0822. That 200 day moving average remains unchanged at 1.0839. The EUR/USD is currently trading at 1.0822