Approaches the 200 day MA at 1.06139
The EURUSD is back up to the 1.0600 level and in the process has moved back above the 100 hour MA at 1.05949. The 200 hour MA at the 1.06139 is next target.
The market seems to be comfortable with the Fed and the likely path of rates (without her saying they were going). The ECB is up tomorrow and should keep a lid on the pair. "Should", that is. We have seen a nice bounce of the trend line and the moves to a new lows both today and Monday did not exactly light a bunch of sell orders in motion. There may have been stops but the market has rebounded. I would expect that dips would be bought. I am not in a big hurry though (say at 1.0565)
The stock market is trading lower, but off the lows. The S&P is -8 points or 0.39%. The Nasdaq is up 0.16%. The Dow is down 41 poiints.
