EURUSD keeps the selling pressure on.

Technical Analysis

Author: Greg Michalowski | eurusd

Moves away from 50% retracement

In the earlier post, I noted the subdued corrective action in the EURUSD. The pair stayed below the 38.2% of the move down at 1.1326 and was also hanging below the 50% of the March trading range. 

Moves away from 50% retracement
The NY session high has seen a small move above the 50% (high reached 1.13148), but momentum quickly faded.  The price is now probing to new lows and moving further away from the 50% retracement level at 1.13105 (now a risk level for sellers).  The price is below the 61.8% at 1.12784.  Sellers remain in control.  

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