EURUSD fails to confirm the downside move and rebounds

The EURUSD has failed on its attempt to the downside as the price found buyers against the 38.2% retracement level and bounced back higher (1.3946 low vs 1.3940 level). The failure to confirm the downside with a break of this level, led to buying and the price moved back above the 100 bar moving average (blue line). The NY session has been quiet. Price action is likely to be consolidative.




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