Level comes in at 1.1108. 100 day MA at 1.1134
The EURUSD is trading at new session highs and in the process is testing the 50% of the move down from the August high. That level comes in at 1.1108. Buyers and sellers are gathering at the level to see which way the winds blow. Look for sellers to lean with stops on a move above.
A move above that level starts to look toward the 100 day MA a the 1.1134 level. Above that is the 200 day MA at 1.1176 level. Trend line resistance and the 61.8% also comes in near that level.
If the price does hold against resistance, the 200 bar MA on the 4-hour chart comes in at 1.1082. The low in the NY session has dipped to 1.1080. That level should be good support I would think.
The dollar is hanging near some key levels in the USDJPY as well. The 103.15 level is a double low level from October. That level was broken early today but quickly reversed toward the 103.40. We are back down testing that level again.
Markets remain anxious about the US election. The FOMC is expected to keep rates unchanged when they announce at 2 PM ET/1800 GMT. Crude oil inventories are out at 10:30 AM ET/1430 GMT.
