EURUSDs fall below the 200 hour/50% is failing

Technical Analysis

Author: Greg Michalowski | eurusd

Moving average of 50% retracement comes in at 1.1760.

The EURUSD fell below its 50% retracement and 200 hour MA near the 1.1760 area. The low reached 1.17449, but stalled and is now back above each of those technical levels.   The break lower failed.  

Moving average of 50% retracement comes in at 1.1760.
The bias is now back in favor of the buyers as long as the price can remain above the 1.1760 level. A move above the low from yesterday at 1.17791 would give the buyers more comfort.  Move above that and traders will be eyeing near the 1.1800 level.
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