EURUSD trades the up and down range. Traders wait for the next shove.

The move higher stalls at te 61.8% of the move down from the November 30 high.

The EURUSD stayed mostly below the 100/200 hour MAs yesterday and closed below those converged technical levels near 1.1297.The EURUSD is back above the 100/200 hour MAThe price wandered lower in the Asian session today with the swing low from Friday’s trade at 1.12644, and the swing low from last Wednesday’s trade at 1.12659 helped to stall the fall. The low price today reached 1.12655 (see green numbered circle 9). Yesterday the low price dipped below each of those to 1.12595, but momentum slowed and the price rotated back to the upside.After bottoming today near the support area (see green numbered circles), the price started to move back higher and was able to extend back above the 200 and 100 hour moving averages (green and blue lines currently at 1.12956 and 1.13007 respectively). That helped to tilt the bias more to the upside once again.

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