EURUSD moves lower after Trichet says recovery will be uneven

The pair is testing support at the 100 bar MA on the 5 minute chart. The level comes in at the 1.4297 (blue line in the chart above). Additional support comes in at 1.4283 where the 200 bar MA (green line) and 38.2% retracement support are both found. Watch these levels. A move back above the 1.4313/18 level (see prior post for chart) will confirm the downside move is complete. Expect to see sellers against the level initally however.




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