GBPUSD has rocketed higher. The EURUSD is limping higher.
The EURUSD stalled at support at the 1.06566 level in earlier trading. IN the NY session, the low could only get to 1.0662. We are seeing a modest move higher. On the hourly chart below the 1.0700 is near the 61.8% retracement. The 1.0706 area is also a level to eye on the topside.
Looking at the 5- minute chart, the pair is testing the 38.2% of the day's range and the 200 bar MA (green line). The 50% is at 1.0702. A move above the 200 bar MA is more bullish intraday. That should lead to a test of the 1.0700-06 level on the hourly chart.
