The ups and downs continue
The EURUSD has moved back toward the 100 and 200 hour MAs at 1.1368, 1.1363 and the 50% of the move up from the November 28th low at 1.13541. The low for the day reached 1.13557. We currently trade at 1.1364.
There have been a lot of ups and downs of late for the pair. The highs today actually took out swing highs in the 1.1418-24 area. That break failed and the price started to come back lower. Now with the price near the MAs and the midpoint of the recent up and down range, it is time for a pause. If the price can build value above 1.1375, I wouldn’t be surprised to see sellers turn to buyers and the 1.1400 eyed. If the 1.1375-80 area cannot be breached, the lows may not be in place.