EURUSD bounces off the support target area
The EURUSD certainly had a volatile down and up and down session. IN the last post on the EURUSD earlier today, the pair was testing support against the 100 hour MA, 50% of the move up from the December 7 low and a swing area on the hourly chart. All that support came in between 1.0584 and 1.0594.
On the daily chart, the pair was testing the low of a key swing area as well at 1.0594 (see red circles on the chart below).
The support held. The low reached 1,9592. The price has bounced higher and trades at 1.0632.
EURUSD bounces off the support
What now?
Well the aforementioned support adds to the levels importance going forward. ON the topside, on more upside watch the 1.0673 area. That was the high from Tuesday and for most of Wednesday until the price traded higher during the FOMC volatility.