EURUSD rotates back down
The EURUSD 's break to the upside to the price above a swing area high at 1.0805 and up to a new high going back to April 22, but momentum cannot be sustained in the price has since rotated back to the downside. The swing area low and 61.8% retracement of the 2022 trading range comes in at 1.07468. The current prices at 1.0778. The low corrective price after reaching the high has reached 1.0751.
Looking at the hourly chart below, the price remains above its rising 100 are moving average. That is way down at the 1.07196.. The low price after the CPI reached 1.0728 on the up-and-down volatility . The high price from December 15 reached 1.07353.
EURUSD moves back down in volatile trading
US stocks are continuing their volatility as well:
- Dow Industrial Average is trading near unchanged. A traders low as -180.92 points, and as high as 120.68 points
- S&P index is down -14.61 points. It traded as low as -32.04 points, and as high as +12.36 points
- NASDAQ index is down -66 points. A traders low as -134.56 points, and as high as 40.70 points