Scoots up to the 50% retracement
The EURUSD has pushed to and through the 200 and 100 hour MAs at 1.1793-955 area. The break sent the pair to the next level defined by the 50% of the move down from the October 12 low at 1.18043.
The pair in the NY session has had a lot of levels to get through.
- The first was the 100 bar MA on the 4-hour chart at 1.17757
- The next was the 200 hour MA
- Then the 200 and 100 hour MA
The 50% is the next progression in the steps to the upside.
The 100 and 200 hour MAs now become close support for the buyers. On a break of the 50%, the 61.8% at 1.18219 will be eyed.
