Floor at 1.10724. The 100 hour MA and broken 38.2% looms above...
The EURUSD is also in an down and up trading range.
The earlier run lower found a nice comfortable place for buyers to lean. That was against the low from Friday and low from Monday as well at 1.10724. The floor is set.
The run back higher is looking toward the falling 100 hour MA (blue line) at 1.11037 and the broken 38.2% of the move up from the Octoberr 15 low at 1.1107. Sellers leaned against the 1.1107 level yesterday.
Do the sellers do the same today (and keep the early week range intact). A move above, would have traders looking toward the 200 hour MA at 1.1120 and the 100 day MA at 1.11222.
Ups and downs so far, but the technical levels are being respected and defining the break levels for traders.
