EURUSD pushes against high for day/38.2% retracement

Technical Analysis

Author: Greg Michalowski | eurusd

50 pip trading range 

The EURUSD is pushing against the highs for the day and the 38.2% retracement at 1.23403 and 1.23385  respectively. The high just ticked to 1.23382.  


The range today is only about 50 pips  At the lows today, the price moved to a lower trend line and bounced.  

A break above the 38.2% would look up toward the 100 hour MA. That MA comes in at 1.23565.  There are other swing levels starting at 1.2351, but the 100 hour MA is a key target on the topside.

On the downside, the 200 hour MA will now be eyed. Break below would take more wind out of the buyers sails.
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