The EURUSD backs off after completing the lap
The EURUSD spiked higher after the weaker than expected ISM data. So there was a run lower on the jobs report and a run higher on the ISM report. Both ran into technical levels.
On the downside run, the 100 hour moving average, 50 percent retracement, 100 day moving average 200 hour MA was a cluster of support (at 1.1120-25) that was too strong to break.
The run higher found sellers at the early day highs at 1.11682. Why not? The double top also fell just short of the high for the week at 1.1174.
We currently trade near the middle of the trading range as the good offsets the bad. So why not spilt the difference? Flip a coin.
Stocks continue to like the good/bad news. The S&P and Nasdaq extends their alll time highs. The Nasdaq is up 0.91%. The S&P is up 0.80%
