December 6, 2022

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EURUSD moves closer to its 200 hour moving average/ 38.2% retracement

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Weaker Michigan sentiment sens the dollar lower

The EURUSD his continued its run to the upside and is getting closer to the falling 200 hour moving average at 1.17807. The 38.2% retracement of the move down from the July at 30 high is just above that moving average level at 1.17828.

Weaker Michigan sentiment sens the dollar lower

The recent hourly bar took the price above swing lows from July 27, July 28 and swing high from August 9, between 1.1768 and 1.17708.  That will now be eyed as close support for traders.




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