The EURUSD has seen a move above the swing highs that stalled the rally between 1.0866 to 1.0874. The high price moved up to 1.08868. However, the price has backed off and failing on that break.
The buyers had a shot and they failed. That could see the buying bias shift more to the downside. Staying below the 1.0874 level would be needed to keep that bias in place. Moreover, moving toward the 100 hour MA would be needed as well at 1.0823.
Fed's Bullard continues his interview with the WSJ. He continues to push toward getting the rate to 5% and above to kill off inflation (which may be slowing the USDs decline). He says that policy is not quite at restrictive level which is interesting as the Fed was saying earlier in the year that getting rates above 2.5% was considered restrictive. But heck the Fed fits the comments to fit their view and they have their storyline saying 5% or more
