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EUR/USD still struggling for traction

Yesterday the EUR/USD came unstuck heading into the 4pm London fix. The rather mixed US PCE data did not have the positive impact that some analysts were expecting and despite initially pushing back above 1.0850, the Euro was unable to hold the rise and fell steeply into that final fix of the month. I said here at the time, when the EUR/USD was dropping just below 1.0820; that further downside looked likely and that did play out to a limited degree. The EUR/USD subsequently fell below the 1.0800 handle. The low seen was set at 1.0796. It later closed the month out in the US at 1.0805. It has not made much in the way of progress so far today either. The high seen this morning has been set at 1.0822. That high is also below both its 100 and 200 day moving averages  (right now at 1.0826 and 1.0830 respectively). The EUR/USD is trading right now at 1.0816 
 

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