EURUSD reaches key resistance levels
The EURUSD has moved up to test the 38.2% of the move down from the January high and the 200 hour MA at the 1.2922 and 1.2936 level respectively. These levels represent levels for traders who are long to take some profit. They also are level for traders to perhaps test the water from the short side. Move and stay below is step one. The next step is a move below the 1.2790 level. This would give any shorts from above added confidence.
Forex News and Commentary by FXDD » Forex Trading
