The 1.2174 to 1.2177 is so far holding resistance again
The EURUSD has moved back up to test the old ceiling before today's trade. That area is defined by swing highs from December 3, December 4 and December 14. Early today the price broke above that level and then retested the level before breaking below ahead of the FOMC decision.
The run lower on the FOMC decision took the price to retest its 200 hour moving average 1.21308. The price move below that level to a low of 1.21241 before quickly rebounding as Powell's Q&A began and continued.
The price high just reached 1.2176. That stalled in the recent highs forming the ceiling between 1.2174-77. Needless to say sellers are leaning with risk defined and risk limited (with stops on a break above likely).
On the downside the 1.2153 to 1.2164 is home to swing levels going back to January, March, and April 2018. Can the price stay above that level.
