EURUSD moves toward lower channel trend line
That wander, transitioned to a run after the higher-than-expected core PCE data in the US today. The pair moved to a low of 1.0535. That got to within eight pips of the lower channel trendline (at the time). The price has rebounded modestly, but the sellers remain more in control. They continue to chase the lower trendline which is running away as result of its downward slope. Currently comes in at 1.05244. Keep an eye on that level for some potential Friday profit-taking if selling intensifies.
