The 200 hour MA and 50% is at 1.1124
It's official....the EURUSD has reached its 200 hour MA and 50% retracement at 1.1124.
Will the dual support level stall the fall? Or will there be a bounce higher in what has been a farily steady run lower in trading today? Helping the buyers is that the 100 day MA at 1.11192 provides another support level just 5 pips from the 1.1124 level. That should give sellers some cause for pause (and perhaps some profit taking).
A move below the 100 day MA at 1.11192 should trigger stops.
