EURUSD range trading. Runs into sellers above
Written April 1, 2010 at 9:23 AM EST by Greg Michalowski
The 100 hour MA held the downside move this morning (see earlier post). The resulting push back higher however, has run into resistance at the 1.3505 level which was a floor from yesterday and is also where the 200 bar MA on the 5 minute chart is found. As a result we are seeing the sellers against the level. Support remains at the 100 hour MA below. Resistance at the 200 bar MA on the 5 minute chart above. A break should see further momentum in the direction of the break with 1.3437 being another key level on the downside for the EURUSD to get through.
Categories: Forex Trading | Tags: EUR/USD
(Aug 30, 2010)
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