EURUSD chopping around after first look at support below held

1.0800 eyed. Then 1.0788

The EURUSD is is chopping around after an earlier test of the 1.0788 failed to push below (see earlier post). The low got to 1.07936. The correction has taken the price toward the 100 bar MA on the 5 minute chart at 1.0827. The price has been able to stay above the 1.0800 on the moves lower as the price chops around.

Existing home sales came in much better than expected (pay back from the November) and the price moved back to test the 1.0800 area but is bouncing back a little now.

Stocks are holding the gains with the S&P up 33 points or 1.77% and the Nasdaq up 2.14%. The 4 PM London fixing on a Friday can be a tricky thing. Resistance at 1.0827. Support at 1.0800.