The EURUSD has extended the days range lower and now higher. IN the process, the price moved below the bottom trend line support (at 1.2339) and now above the top trend line resistance (at 1.2475). The price is back above the 100 and 200 bar MA at the 1.2461-63. If the price move is supported by the market, I would expect the buyers to defend this level below. If they don’t, it certainly would be a massively frustrating market.
The high from yesterday at the 1.2486 opens the door for the 1.2500 and then 1.2515 which is the 38.2% of the move down from the May 1 high.
