The EURUSD is trying to recover off support
After running higher into the NA open, the EURUSD has started to give up some of the gains. Technically looking at the 5 minute chart, the price:
- Fell below trend line support
- Tested the 100 bar MA (blue line),
- Fell below the 100 bar MA.
- Tested the 50% of the trend move higher at 1.17931
Now the pair is trading back above the 100 bar MA.
The buyers are back on the horse and looking to the upside.
Fed’s Powell starts his press conference shortly.
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