EURUSD moves back below the 50% midpoint
The EURUSD has now moved back below its 50% midpoint and the 1.1300 level (see earlier post). The 50% comes in at 1.13014. That level was also a swing area going back to January 20 (see red numbered circles). The earlier buyers of seem to switch over to the sell side a bit with intraday resistance now against the midpoint level.
On the downside traders will look back toward the 1.1271 to 1.1279 area. That level is home to a number of swing levels going back to December 29.
