The support and resistance is maintained in the EURUSD today
Yesterday, the 1.1343-47 area was support with the 200 day/week MAs and swing levels clustered there. I outlined the 1.13927 as resistance. It is the 61.8% of the 2019 trading range (see daily chart below).
The second verse (i.e., today's target) is the same as the first (yesterday's target).
THe low today reached to 1.1347 and held the area for the 3rd day in a row. THe high has reached up to 1.1381 (still short of the topside resisatance level). We currently trade at 1.1370 right around the 100 hour MA which is dissecting the two targets.
At some point the pair will crack above or below one or the other (look for momentum on a break).
On the topside, the high for week is the next target (would be a new high going back to March 21. Above that the pair would target the March 20 swing high at 1.1447.
On the downside, a break of the 1.1343 level would eye the 38.2% of the move up in June at 1.13234. The lagging 200 hour MA is down at 1.13048. and 50% retracement is at 1.12962.
