EURUSD moves back to new lows after break higher stalls

Yields heading lower.

The EURUSD made a run to the upside, breaking above 100 and 200 bar MA on the 5-minute chart and also above topside channel resistance. The high stalled ahead of the high from yesterday and started to retrace.

We just fell below the lower channel trend line and are now testing the 200 week MA at 1.17856. We will see if the MA holds support.

Yields on European debt are heading lower and trading at their lows (Germany and France down about 5 bps).