Forex Trading: EUR/USD Up On The Day But Remains In Choppy Trade

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Forex Trading: EUR/USD Up On The Day But Remains In Choppy Trade

By Greg Michalowski on June 30, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The EURUSD remains in a choppy trade today. The pair seems to be using the 100 bar moving average as a point of deflection/reflection. If above, it uses the average as support. On the break below, it then uses the level as resistance.

Currently,the price is above the moving average which currently is at the 1.4117 level. A break below should lead to further pressure to the downside. 1.4080 would be the 1st downside target.

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