EUR/USD taking small steps up
A small bounce for EUR/USD yesterday is a possible sign that the bulls are gathering strength, but we still need to see a push back above $1.0689 to confirm that a really bullish move is underway on the hourly chart.
Any failure below this simply constitutes a new lower high. However, it would be a good sign if the pair moved back above $1.06 on the daily chart, signaling that the rally off the December lows is still intact. A close below yesterday’s lows of $1.0569 would signal a possible drop to the February low around $1.0494.