The 1.14657 area is eyed
The EURUSD has moved higher and in the process is looking to challenge the 61.8% of the move down from he October 16 high and a topside trend line off October 22 and November 7 highs a the 1.14657 area. That level is a key bias level for the buyers and the sellers.
Housing data today was weak and lower stocks are helping to weaken the USD.
The price earlier in the day, moved above the 50% retracement and then waffled mostly above that midpoint level (at 1.14178 – see earlier post) Staying above in the NY session, has given the buyers more of a reason to push the upside.