EURUSD is testing the low of a cluster of support
The EURUSD is back down testing a cluster of support including its:
- 100-day moving average at 1.0770,
- Rising 200-bar moving average on the 4-hour chart at 1.07644, and
- 50% midpoint of the November trading range at 1.0766.
The low of a swing area between 1.0768 and 1.0781 is also been tested.
Buyers and sellers have a choice here.
- Buy against the low of the area at 1.07644 with a stop on a break below the level,
or
- Sell on a break below 1.07644 (or hold shorts from above and look for a break below).
Decision time for both buyers and sellers. Break lower increase of various bias or hold support and bounce back to the upside once again.
