Steady bid boosts EUR/USD 65 pips from the lows
The London fix was the story for EUR/USD traders today. The pair bottomed at 1.0826 at the fix and has climbed to 1.0871 since in a steady move.
The rise is part of a broader US dollar slide against the entire FX market so I wouldn't read too much into it. That said, it's the second day in a row that the euro touched a fresh one-month low but only marginally, followed by a retracement.
It argues that sellers don't want to push the pair at the moment. On the daily chart, a double doji is shaping up. Alone, that doesn't say much about the direction. It's probably a normal sign of caution in the lead-up to non-farm payrolls.
