The test of the 200 hour MA and 61.8% of the range this week stalled on the test
The EURUSD tested the 200 hour MA and 61.8% of the weeks trading range at 1.24059-072. The low reached 1.24111.
The move lower did move below the 100 hour MA and the 50% at 1.2429 area. Staying below will keep the pressure on the pair.
ON a move lower, the 1.23837 lows from Wednesday and Thursday are certainly a doable target. If there is more of a melt-up in the US dollar today, the 1.23339 low for the week becomes the focus. Why not? It was good enough on Monday and the data was strong enough too.
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