Dollar weakens
The EURUSD tried to move lower yesterday and even on the initial reaction to the data today, but dollar bulls are not out there for long – or so it seems – and the buyers entered. Technically, the price is back into the old channel after breaking below yesterday (at 1.0982 currently). The 200 day looms above at the 1.0307 level and is providing a ceiling on the first test. On Wednesday, the price moved above this moving average but fell short of the 100 day MA at 1.10603 (high reached 1.1042 – see yellow area in the chart above).