EURUSD was trapped below 1.1600 as the dollar tried to rebound.

　　The weak non farm raised the euro against the US dollar, but the rise in US bond yields will keep the exchange rate down.

　　The euro is waiting for a sustained rise above 50-sma against the US dollar, while holding the support of 21-sma.

　　As the dollar rebounded, the euro rose slightly against the dollar and closed narrowly below 1.1600.

　　As inflation and energy prices increase the probability that the Fed will reduce its asset purchases, the dollar follows the rise in US bond yields. Meanwhile, the European Central Bank said it was studying a new bond purchase plan to be used at the end of the crisis tool.

　　The monetary policy divergence between the Federal Reserve and the European Central Bank will continue to support the euro, so any attempt to rebound the currency pair is only short-lived.

　　At present, the euro rose 0.07% to 1.1573 against the US dollar, and the holiday market is light.

　　From a short-term technical point of view, the exchange rate fluctuated within the range, and the rise was blocked by the bearish 50 hour SMA average of 1.1584 on the 4-hour chart.

　　Meanwhile, the decline of the euro was still limited by the falling 21 hour SMA of 1.1562.

　　RSI rose slightly, but it is still near the middle line. Bullish traders should be cautious. Foreign exchange platform recommendation: http://www.ban8.com.cn/platform/660.html

　　EUR / USD daily chart