EURUSD rebounds back above 50% retracement

Technical Analysis

Author: Greg Michalowski | eurusd

50% midpoint of the 2021 range comes in at 1.20261

The EURUSD rejected the break above the 100 day MA yesterday and today moved back below the 50% midpoint of the 2021 trading range at 1.20261. 

50% midpoint of the 2021 range comes in at 1.20261

However, the selling found buyers just ahead of a swing area between 1.19857 to 1.19943. The low today reached 1.19978.  The move back higher, has pushed the price back above the 50% midpoint level (at 1.20261). That is a tilt more to the upside.   

Focus to the upside will once again be centered on the 100 day MA at 1.20548.  Get above that and stay above, is the next key upside hurdle.  

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