Sellers were waiting against the topside resistance area. Back below the 1.1000.
The EURUSD spiked higher on the back of the weaker data, and ran into willing sellers in the 1.1013-159 area (see earlier post). The price has since fallen back to the 1.1000 area. The pair is trading above and below that area currently, but the holding of resistance was key for the sellers/bears. Stay below is more bearish.
The range today found support near swing support at the 1.09846-894 area and now near resistance. The move higher seems corrective in nature but if the sellers are to keep control, those sellers need to push below the 1.09846 area (and stay below).
