Price rotates to new session lows
The EURUSD sqeaked back above the 38.2% of the move down from the March 20 high at 1.1284 and the swing highs going back to March 27, but just could not get other buyers on board. After pushing in the London morning session, the buyers have given up, the price has rotated lower.
We just made new session lows at 1.1261. The 100 hour MA looms below at the 1.12562 level. Yesterday that was broken but failed. Near that is the 1.12543 level which was a ceiling/floor last week/this week.
Below that is the 200 hour MA and trend line at 1.12388 will be eyed. They - like the highs today - were broken yesterday by failed.
The range for the day is still a modest 26 pips. The 22 day average is 53 pips. There is room to roam.
