EURUSD runs into a cluster of support
The EURUSD has continued into the negative for the day in the process has also fallen below the 1.1400 level. The next stop was the low for the day which is also near the 38.2% retracement 1.13759, the rising 100 hour moving average at 1.1374, a swing area between 1.1370 and 1.13744. That cluster of support has given buyers a low risk trading opportunity with stops likely on a break below. Resistance now comes in against the 1.1400 level as buyers and sellers continue the up and down battle.
Meanwhile the GBPUSD has moved below its 100 and 200 hour MAs (blue and green lines), tilting the bias to the downside. The next target comes in at the lower swing area between 1.2528 at 1.25358. The upward sloping trendline is also at the area. Ups and downs continue with this pair as well.
