EURUSD rebounds toward intraday resistance
The EURUSD banged against the 100 day MA at the 1.0957 area and held. The low for the day is just below that level at 1.09565 The pair has now moved down from 1.13757 from the February 11 high (about 420 pips in 10th day). Eight days have been down. The 61.8% of the 2016 trading range comes in at 1.09643 level. That level was also tested near the lows. We are back above now.
There is topside resistance against the 200 bar MA on the 4-hour chart above at the 1.1005 level (close enough to the 1.1000 level.
Looking at the 5 -minute chart the 50% of the move down today and the 100 bar MA come in at 1.0991-928 currently. This area should solicit sellers, if the sellers want to take another run at the 100 day MA . Right now however, the pair is doing the bounce and traders are latching on to the key support holding below.
FYI. I am working on a special project that requires total attention. So have been and will be in and out. Hope your trading is all going well.