The EURUSD held support earlier today the 1.3621 level (see floor above) and this gave the pair confidence to move higher. The price moved above the converged 100 and 200 bar Moving averages on the 5 minute chart at 1.3640 area and the price moved sharply higher to 1.3713 where sellers emerged. The price was then pressured back down as talk of union strikes in Greece brought the debt situation back to the spotlight.
So we stand at a neutral levels. The close from Friday is 1.3664. The 100 bar MA on the 5 minute chart is 1.3667. Below these level give a bearish bias. On the downside the 1.3621 floor must be broken to lead to a test of the lows from Friday. A move above has 1.3685 and 1.3713 as the next upside targets. With little in the way of economic data, the market sledding may be rough today.
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