Eur/Usd trades down to 200 hour M/A
Eur/Usd came of about 30 points to trade down to its 200 hour M/A of 1.4971. It has since rebounded and now trades either side of 1.5000. The pair seems to be in consodlidation mode, as most of the action has been in between the 100 and 200 hour M/A (1.5018 & 1.4971). As we approach the European open your guess is as good as mine in which direction the pair will take. A break above the 100 hour M/A should bring us up to the 1.5080-90 level. A break below the 200 hour M/A should lead us to support at 1.4947. After that 1.4885 would be next level of support.
