Greece headlines keeps traders cautious
The EURUSD followed mainly below the 100 hour moving average and Asia-Pacific trading. In the European session, the pair tried to hold support at the 200 hour MA - like yesterday - but gave way and extended the narrow trading range (at the time). The pair is not back above and below the 200 hour MA at 1.1222 .The topside trend line and 100 hour MA loom ahead as a level to target at 1.1255 and 1.1267 respectively. The pair is stuck near mid range. Near the 200 hour MA. Below the 100 above. The 38.2% is below at 1.1168. We are kinda in a place of neutrality.
Looking at the 4 hour chart, the reason for today's bottom becomes a little more in focus. The 200 bar MA held the support (see green line in the chart below)
For the week, the low was reached on Monday (remember that was after the better US employment report). This week we had better Retail Sales. PPI today was about as expected. Then there was Greece.
The midpoint for the week is 1.1234- not to far from the current level. It is more of a coin flip with 100 hour MA above and 200 bar MA below. The market seems content between the levels and might just swing around on a Friday.
