Watch the 1.2096-1.2100 for sellers
The EURUSD has been mostly lower today, but is seeing a bounce as the dollar loses some of it's strength over the last hour.
Looking at the 5 minute chart below the pair is approaching the 1.2096 level. That level has been a swing point going back to Thursday (bullish above/bearish below). Also the 50% of the day's range is 1.2100. Sellers should come in at this area if the bearish bias is to continue. If not, the waters get a little more muddy.
Looking at the daily chart below, the 50% of the move up from the November low stalled the fall on Friday at 1.20538. The low today stalled ahead of that level at 1.2063. Last week the pair cracked some key support targets and ran lower. If the sellers are to keep in control, that 50% will be eyed as a key bearish clue (see earlier post).
