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EURUSD Remains Contained after Report
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The EURUSD whipped around at 8:30 on the weaker headline, stronger revisions and is now working through what it wants to do.
The range took the price above the 13851 (38.2% of the move down from the October 26th high to the low) – reaching a high of 1.3867. The low post the report has come in at the 1.3823. The midpoint of the range comes in at the 1.3836 level.
On the hourly chart, the price moved above the 38.2% of the move down from the late October high at the 1.3851 but that move was short lived. THis level will be eyed this morning. Sellers against the level should lead to rotation back down. A move above and there could be some further gains toward the highs and the 200 hour MA at the 1.3900 level.
Patience.
