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EURUSD looks to close above the 50% retracement of the 2022 range

December 2, 2022 by admin 0 Comments

The EURUSD is trading back above the 50% retracement at 1.05155 after the first attempt above the level could not be sustained. The current price trades at 1.0527. Staying above the level is an additional bullish tilt for the pair with the next target on the daily up at the swing area between 1.0615 and 1.0634.

A move back below the 50% midpoint would target the highs from November at 1.0497 and 1.04798. A failure back below those levels would test the buyers conviction on the 2nd run higher today.

EURUSD looks to close above the 50% midpoint

This article was originally published by Forexlive.com. Read the original article here.