Break lower lacked momentum
The EURUSD price action today has had a little bearish and a little bullish.
Bearish: The high reached stalled at the 50% of the move up from the November 12 low.Bullish: The break below the 61.8%, trend line failed. That shows lack of will to go lower.
We trade near a swing area between 1.1321-25 (yellow area).
Traders are looking for the next push with the 50% above at 1.1343 and the 61.8% below at 1.1313 the borderlines eyed for the next clue. Note also that the potential exists that traders will simply use the levels to lean against (i.e. buy near 1.1313, sell near 1.1343) with stops on a break.