The US Retail Sales came out weaker and the EURUSD tested that 100 hour MA(blue line in chart) and 38.2% support level at 1.2527. The low came in at 1.2525 and the market rebounded – making new highs in the process (and breached the 50% of the weeks range at 1.25538).

The price has since rotated back lower and sits in the middle of the early NY range. Not too encouraging to see this type of action. Buyers and sellers are battling it out but no one is winning this joust.