EUR/USD opens a few pips higher after giving back some hefty gains

It shot up to 1.1065 after softer US CPI before reversing lower nL1N39R1CK

Reversal lower was due to rebound in US yields after initial dip nL1N39R2KM

EUR/USD fall was cushioned by EUR/UJPY buying - as cross hit a 15-year high

EUR/USD topped out at the 21-day MA, which was 1.1065 yesterday

The subsequent fall validates the 21-day MA as key resistance

The 21-day MA descends to 1.1053 today

EUR/USD price action of late keeps reverting back to the 10-day MA (1.0978)

Support is at the 100-day MA at 1.0930 and close below would be bearish

A close below 1.0930 targets the 61.8 of 1.0635/1.1276 at 1.0879

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