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EURUSD backs off from swing area. Watch old trend line for support


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1.1366 will be eyed ahead of 200 hour MA/50% retracement

The EURUSD has backed off a swing area in the 1.1397-1.1401 area (see red circles) in early NY trading.   On the downside, I would expect to see some stall at the 1.1366 level. That level is the old trend line which was broken earlier today. It is now support.

Below that, is the 50% and 200 hour MA at 1.13566 area.  That area was a ceiling in trading yesterday.  It should be a floor for trading today as the market continues the ups and downs. 

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