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EUR/USD tests 200 day moving average after CPI release
Following on from the previous update noting the pretty wild price action in the USD/JPY, it is worth noting that has now rebounded again and it is extremely volatile. The dollar just ramped back above 145.25 from an earlier low at 144.74. Well, make of all that what you will, but it smacks of confusion and a dearth of liquidity too. The same applied to the EUR/USD too, as that did briefly push the EUR/USD just above its 200 day moving average, at 1.0825. The high seen was set at 1.0827 which to my way of thinking does not constitute a technical break above the level. Besides it has fallen back below 1.08 again no anyway, as the USD/JPY charges back above 145.50. The EUR/USD is currently trading at 1.0797
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So, we have had a whole host of PMI data from Europe this morning and later this afternoon, at 1.45pm GMT we will get the equivalent data from the US...
