New York Breakout

Looking at what happened overnight on the hourly chart I can see that price was not able to re-test yesterday's high and a lower low was set. Selling pressure seems to be coming in now but price has been in a range during the first half of the London session. Better than expected employment numbers came out for the eur again, which looked to be a non-factor. Consumer confidence out for the US today but will most likely take a back-seat to any news about the stimulus package which is getting close to being done. With the US dollar overextended to the downside, passing of the US relief bill could be the catalyst to help the dollar rebound.