EUR/USD rebounds from 1.1950 as dollar move fades

EUR/USD climbs to 1.1973

EUR/USD held yesterday’s low in the latest downdraft and is in the midst of a minor bounce to 1.1970 from a low of 1.1948.

What happens next will depend on how the stock market closes out the day.

We’re in a vulnerable spot here. It’s Thursday and if there’s a poor finish today, it will be more of the same on Friday and that’s a bunch of downside risk, which will spill over into this pair and give the dollar and yen a broader bid.

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