The EURUSD is moving to a new session high as US yields tumble on financial institution concerns. The two year yield is now down to -24 basis points at 4.659%. The high-yield this week reach 5.085%.
For the EURUSD, the payer is moving up to test a key swing area between 1.0653 and 1.06685 (see red numbered circles). A move above that level would have traders targeting the highs from early this weekend last week between 1.06920 and 1.0694.
Helping the bullish bias was the corrective move to the downside after the better-than-expected jobs report found support buyers ahead of the 50% midpoint and the 200 hour moving average near 1.06086 (see earlier video outlining this level as a key barometer). Staying above that level gave the buyers the go-ahead to push back to the upside from a technical perspective.
US stocks are now open with the major indices down -0.30% to -0.60%.
