Sellers push the price back below the old highs
The EURUSD took a peak above the recent highs at 1.1035 and 1.1051, but has moved back below that ceiling in a quick move back to the downside. Activity remains choppy as traders now look more toward the FOMC decision at 2 PM.
The tumble took the price down ot the 1.1004 - below the London morning high at 1.1013. Below that level the 100 bar MA ( blue line in the chart below) will be eyed as a support before the FOMC. The market held against a support level prior to the GDP release (see blue line in the chart below). That 100 bar MA comes in at 1.1094 currently.
