Support held. Sellers give up.
The EURUSD was testing support earlier in the NY session. Trend line and a swing level at the 1.1234 area was stalling the fall. Could the sellers push through? NOPE. Grag Taem was spot on.. He commented on the prior post to buy the dip. We are trading at NY session highs, and in the process moved back above the the 1.1250-56 (yellow area).
Are we racing? Not really.
There is overhead resistance at the 1.1284 area and then the ubiquitous 1.1300 level (high from the US election day), but what we know from the day is the technical support did hold on the hard test. The price remains above the 100 hour MA and 200 hour MA. Those are more positive/bullish things.
If the price can't go lower, it goes higher. That is what we are seeing...