Trades above and below the 50% at 1.31592
On Monday, the price inched above the 200 hour MA but stalled at the 50% retracement.
On Tuesday, the 200 hour MA moved lower and was broken. The price moved to the 50% and stalled.
Today, the price has been able to stay above the 200 hour MA, and got above the 50% retracement, but has waffled above and below that line today.
The current bar is trying to stay above the 50% now as stocks open in the US and new highs have been made. Are buyers making stronger play? We will see. It could be close risk.
On more upside, the topside trend line comes in at 1.3198. The 61.8% is at 1.32069. Those are the next targets.
On the downside the 200 hour MA and trend line are at the 1.31275 area. A move below would take the wind out of the buyers sails.
