EUR/USD Runs Circles Around Key Level

 

 

The EURUSD moved up to test the 100 and 200 bar MA on the 5 minute chart in early NY trading at the 1.3666 level.  The price has also the 1.3654 level to contend with on the downside as NY early trade is stymied.  The 1.3654 level has been a level of support and resistance on the hourly chart over the last 3 week consolidation period (see the chart below).  A move below should solicit some selling interest with the 1.3638 being the next support level (38.2% of the move up from Friday's low). Below that level is 1.3617 (see chart above).