But, it is only 36 or so pips
A year ago on Easter Monday, the North American session was worth about 36 pips.
The fall from the high just took the price down about 36 pips. The range for the North American session is about 50 pips. Not bad.
Is it the higher yields? .Is it the stock market's rebound?
Technically, the price could not get above the 1.1035 target (high from March 18th). See earlier post.
Technically from an intraday perspective, the price has moved below the 50% of the NY range. and the price is now moving below the 100 bar MA on the 5 minute chart at 1.1000 (see chart above) The 200 bar MA (green line) is in traders sites now. That level comes in at 1.0990.
