The latter is starting to nudge back below its 100-hour moving average (red line), which will allow sellers to regain near-term control. But at this point, headline risks are still the main driver more so than the technicals. But amid a quieter period for now, this is the only thing to watch out for before we get to US trading.
Elsewhere, GBP/USD is also up 0.3% to 1.2753 but it's not much of a recovery after a fall from a high of 1.3200 last week. Meanwhile, we do have AUD/USD up over 1% to 0.6055 but that also comes amid a plunge from 0.6300 since Friday.
In the meantime, we might have moved on from peak fear in markets and avoided more panic selling yesterday. But is that really a green light to be buying into the hopeful optimism today? Not quite perhaps but we'll see.
This article was written by Justin Low at www.forexlive.com. Read More Details
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