Moving higher as NY traders join the fray but some apprehension…
The EURUSD has pushed back higher after reaching new week lows in London morning session, but failing to take out the lows from October at 1.0850 and 1.0858. The low reached 1.0853. The rebound has been able to move back above the 1.0910 level which was the swing low June 24th. The price moved above that level in the Asian Pacific session to a high of 1.0923. Staying above that level should solicit more corrective buying in the pair. However, we are already seeing a rotation back lower (the high just reached 1.09186).