Holds the line....
The correction off the high in the EURUSD did find support buyers against the 100 hour MA and 38.2% of the last leg higher today. A move back above the 1.0683 level (high from Friday) should give the longs even more comfort....
Here is what the hourly chart looks like...
The US trading day started with a range that was the 2nd lowest this year (see prior post). The 63 pip trading range at the time, is now over 160 pips. The average trading range over the last 22 days is 166 pips (thanks to some pretty big range days over that period). So the range is quite acceptable. This makes getting above the 1.0683 as an important hurdle intraday..
