EURUSD: 1.3279-88 is increasing in importance

Written February 9, 2012 at 2:02 PM EST by  


The 1.3279-88 levels are increasing in importance for the EURUSD . The level was a high ceiling for yesterday’s trading and has been holding as support over the last few hours of trading. The level is also the 38.2% of the move up from yesterday’s low and the 100 and 200 bar MA on the 5 minute chart are currently converged at the 1.3280 level (100 bar MA is also going sideways).  Stay above and bullish bias remains.  There should be stops on a break.

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