EURUSD still holds onto 50% midpoint support

Technical Analysis

Author: Greg Michalowski | eurusd

The 1.11377 level continues to hold support 

The EURUSD fell below "the range" lows at the 1.1162 area and has been able to stay below that level.  The floor is now the ceiling.

The 1.11377 level continues to hold support 
However, the next key target below at the 50% midpoint is still holding support. The EURUSD has stalled at the level (1.11377) on the last two hourly bars.  Needless to say, just like the floor above (now the ceiling), a break of the level is needed to get more shorts interested.  

Looking at the daily chart below, the 1.1100-09 area is home to swing levels from April, May  and July.  That will be a target on more downward momentum.

EURUSD on the daily chart would target the 1.1100 – 09 level on more selling pressure

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