The US GDP was better than expected. CPI out of German came out worse at -0.3% vs. -0.1%. EU Flash estimate comes out tomorrow. The fundamentals should be bearish for the EURUSD but we are seeing a reversal higher. HMMMM
Technically, the price is approaching the low from last week at the 1.2613 level. The 38.2% of the move down from the high yesterday comes in at the 1.26316 level. Those are the resistance levels. Needless to say, the price action does not support the story, but….
EURUSD tests the lows from last week.