The EURUSD has bounced higher and is testing the 100 bar MA on the 5 minute chart (see prior post). The 38.2% of the move down today comes in at 1.2459. If the trend like move from the high today is supported, I would expect happy and willing sellers in this area . A move above has the next resistance at the 1.24749.
A move below the 1.2440 level could be a sign another test of the 100 hour MA at the 1.2410 is in the cards today.
