Not making a mountain out of a molehill, but the EURUSD is trading to a new session low. The price just ticked to 1.0876. The trading range for the day is still only 29 pips versus 49 pips average over the last month of trading.
On the downside, the 38.2% of the move up from the February low comes in at 1.08712. Below that traders will eye 1.0865 swing level and then the 100-day and 200-day MAs at 1.0852 and 1.0836 respectively.
The low price just reached to 1.08721. Traders are knocking on the low from last week and the 38.2% level. Key level for both dip buyers and sellers. Key barometer.
This article was written by Greg Michalowski at www.forexlive.com. Source