Moves toward the 50% midpoint of the recent high low range
The EURUSD has been moving higher and lower over the last 3 or so weeks of trading. You can see that on the hourly chart.
The 50% of the recent ups and downs comes in at 1.16617. The price just tested that after getting back above the 61.8% of the same range earlier (at 1.1641).
Traders have leaned against the midpoint level on the first test. A move above would have traders eyeing the 200 hour MA at 1.1674. The 100 hour MA comes in at 1.1685.
For now, the price is staying below the 50% though as some traders take some profits.
