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Once busted not yet returned- check out the EUR/USD this morning
The reaction in the EUR/USD to the US data yesterday saw it bust below the 1.10 handle it had been clinging to all morning. However, once the level gave way, it was a straight line move down close to 1.0950. It seems that stops were tripped in all that too, which does make sense. The EUR/USD later closed in the US at 1.0972. It has not been able to reclaim the 1.10 again yet today and the range seen so far has been tight covered by 1.0971 to 1.0983. So, the higher dollar and higher US yields have stymied the Euro once again and taken the wind right out of its sails. It is currently trading at 1.0978
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