EUR/USD survives first test of 1.0900

Later yesterday evening, following an update here noting the EUR/USD as being still under a degree of downside pressure, the Euro fell to a fresh interim low, below the low seen earlier in the day following the US CPI report. That earlier low was set at 1.0910. The low seen after the European close was set at exactly 1.0900. The Euro later rebounded with US stocks and lifted back above 1.0925 and then posted a US close at 1.0934. So, as you can see the Euro has held its first significant support level, the question is; will there be another attempt on that today and if so, will it hold at the second time of asking? Well, perhaps we have to see what the US September PPI (Producer Price Index) has to offer, at 12.30pm GMT before casting a judgement on that. Right now it is fair to say; that higher US producer prices will not do the Euro any favours. There will be more to add on that later this morning. Meantime, the range on the EUR/USD so far today has been covered by 1.0923 to 1.0941. It is currently trading at 1.0936