EUR/USD Remains Supported At The 200 Hour Moving Average

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EUR/USD Remains Supported At The 200 Hour Moving Average

By Greg Michalowski on July 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The EURUSD fell initially off the worse than expected job report as safe haven flow idea spurred on the dollar buying. The price tested the 200 hour MA support at the 1.4023 level, but after reaching a low of 1.4014, the price rebounded. The level will be watched going forward.

The 100 bar moving average 5 minute chart remains topside resistance. The level currently comes in at 1.4088. The price has bounced off this moving average on at least 4 different occassions last night.

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