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EUR/USD slips again to test 1.0700

The rebound in the EUR/USD since this time yesterday has for now run out of steam again. As this update is being typed, the Euro is slipping back to test the 1.0700 handle. Earlier today the EUR/USD topped out ahead of 1.0730 and it pretty much did that yesterday too, when it peaked last night at 1.0733. The EUR/USD closed in the US last night at 1.0712 and high set earlier today was at 1.0728. The lack of traction against the backdrop of a higher Yen versus the dollar suggests that EUR/JPY is partly to blame for the move lower in the EUR/USD just now. The Euro has just now dipped below its still falling 21 day moving average. That is in place right now at 1.0714. The low seen was set at exactly 1.0700. It is currently trading at 1.0707 

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