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Forex News: EURUSD quieting down after a strong move higher today in NY

Posted by Greg Michalowski on Mon, 07/07/2008 - 3:31pm in

EURUSD

The EURUSD sold off in the London session to the target 1.5610 level (see post from last night) and started it's move higher. The subsequent rally took the pair up to the 200 and 100 hour moving averages. Those averages come in at 1.5745 and 1.5755 respectively. The high for the pair was 1.5753. These levels will be watched tonight.

The resistance will remain at the key MA above as we enter a new day and the support comes in at 1.5700 and 1.5682. Watch these levels.