FX Update- EUR
EUR/GBP, up 0.25% to 0.78868, is trading in the middle of today’s range sandwiched between the 21-day moving average above price at 0.788 and the 9-day moving average below price at 0.7882. EUR/GBP is also in the middle of its narrow range beginning mid-April (0.80-0.78), after testing both upper and lower limits of this narrow range last week.
EUR/JPY, flat at 162.24, continues to consolidate above 162 and is trading just above its 200-day moving average at 162.22. EUR/CAD, up 0.6% to 1.5645, has taken back a good portion of Friday’s declines after resisting 1.55 for a second consecutive session. EUR/CHF, up 0.25% to 1.6138, has also retraced a good portion of Friday’s losses but continues to trade below the 200-day moving average at 1.6169.