ECB Villeroy: ECB to clearly follow path of gradual normalization

Back of France's Villeroy speaks in Amsterdam

Bank of France's François Villeroy speaking in Amsterdam says:

• ECB to clearly follow path of gradual normalization
• there should not be excessive focus on net bond buys

The EURUSD is moving lower again as it waffles higher and lower in trading today. It does have more of a bearish bias.

• The price is lower than the close from yesterday at 1.17886. We currently trading at 1.17677
• The attempt to go higher in the New York session just failed against a topside trendline on the five minute chart
• the prices back below the 200 and 100 or moving averages.

The pair is targeting 1.17614. That is equal to the 50% retracement of the move up from the week's trading low on Monday. Move below that level will next look toward the 100 day moving average at 1.17431. That is an even more important technical level. On Monday the price moved above that level corrected down to it before surging higher.