• The EURUSD has taken a step higher, continuing the positive bias from the post employment lows (failed move below 100 day MA at the 1.3119 level). The low to high range is up to 65 pips. Still narrow which keeps the idea of an extension higher still in play.
  • The price has come off the highs after failing to get above the high from yesterday at the 1.3179 level. The 38.2% of the days range comes in at the 1.31527 and this is where the price is currently testing. Holding this level should be positive. A move below muddies the water a bit for the buyers.
  • A move back above the 1.3166 is the next target to get above. This is the 38.2% of the weeks trading range,
  • Above that is the high from yesterday at the 1.3179 level and the 100 hour MA at the 1.3187 level.
  • The 200 hour MA at the 1.3200 is another hurdle on the topside.

Action continues to be difficult for the pair as traders find momentum hard to maintain.