The better tone in the Beige Book has been a benefit to the dollar with the EURUSD ticking down and the USDJPY ticking up. However, intraday the high from yesterday and the 38.2% of the last leg higher has held the low. This is the second time the market correction has found support buyers against the 38.2% today. This keeps those looking for further trend gains in the game. 1.25554 is the midpoint of the move down from May 21. Getting above this appeases those happy longs and could be a signal for further upside potential. It is a decision time for the EURUSD…..
