Recall from yesterday, the 4 PM London fixing saw the dollar move lower.
EURUSD moves back to parity into London fixing
Looking at the EURUSD it moved above the 0.99515 swing low going back to July and raced up to the 100 hour MA.
Today, the price for the EURUSD moved back below the 100 hour MA and returned to the 0.99515 level (the low reached 0.99548), and we are seeing a rotation back to the upside. The lower 100 hour MA has been broken at 0.9976 and the price is moving back to the parity level at 1.0000. A move above that level will have traders looking toward the 38.2% at 1.0015.
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This article was originally published by Forexlive.com. Read the original article here.