The 50% lid stays
The 50% of the week’s trading range is at 1.1094. The high yesterday/today reached 1.10958. Sellers are doing their best to put a lid on the pair against that level.
We are trading now at 1.1071. ON the 5 minute chart, the rising 200 bar MA (green line)comes in at 1.10698. The 100 bar MA (blue line in chart below) is at 1.10833. That line was broken after holding on dips earlier in the session.
So, there is a battle between those two MA intraday. A move below should lead to more selling as the probe lower continues.