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No rebound for EUR/USD in Asian trading

The fall to below 1.09 in the EUR/USD yesterday delivered no rebound into the US close. The rise in US yields was entirely responsible for that. The EUR/USD closed in the US last night at 1.0883. Perhaps we can also trace this lower close back to the failure of the EUR/USD to reclaim the 1.10 handle some days back, as was noted here at the time. The range seen so far today has been tight  though. I also once again draw your attention to the cluster of moving averages in place a little lower down. Right now those are as follows- 21 Day at 1.0860, 100 day at 1.0859 and 50 day at 1.0852. The 200 day moving average remains lurking just below that lot, at 1.0839. So, once again that 1.0850 area remains of quite significant interest. It really all depends on what lies in front of, or below in terms of stops and orders. The low seen so far today has been set at 1.0873 and the high is at 1.0886. The EUR/USD is right now trading at 1.0881
 

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