Same low area from yesterday. London end of week fixing approaches. Be aware.
The EURUSD has moved to new lows for the day after testing and holding against the 1.0706-12 area (see post from earlier outlining the area of resistance).
The action today is still a bit choppy but the range is still below the average over the last 22 days and so there is room to roam. I must warn, however, that the London 4 PM fixing and it can increase volatility - especially into a weekend with geopolitical risk. So be aware. The bias, however, is down. The holding of the intraday resistance above gives the sellers the edge from a technical perspective.
Close resistance for intraday traders looking for more comes against the 100 hour MA (blue line in the chart above). That comes in at 1.0680. Stay below and the sellers are happy and buyers remain more nervous. A move above does not necessarily hurt the bears too much, but it does muddy the waters a bit.
