FOMC meeting minutes still a go at 2 PM
The EURUSD has seen the price wander back lower after testing the high price for the week at 1.1094 and the 50% retracement of the move down from the July high to the July low (at 1.1096).
The pair is now back down testing the 100 hour moving averagefrom blue line in the chart below at 1.10437. The low just reached 1.1045.
Earlier, the price was finally able to close an hourly bar above that moving average level. Now the market is testing the level. Staying above keeps the buyers in charge.
Looking at the 5-minute chart, the price is also testing the 38.2% of the days trading range, along with the 100 bar MA and a trend line connecting most recent lows. So there is reason to buy against the 1.1043-47 area technically.
