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EURUSD Remains in the Midrange and Looks for a Push

EURUSD tries to hold the 100/200 hourly MAs

The EURUSD has pushed it outside the rising and falling trading range that has confined the pair since August 19th. This trading range has a floor between 0.9899 and 0.9913, and a ceiling around the 38.2% retracement of the move lower since August. higher at 1.00782.

Between these extremes are the 100 and 200 hour moving averages. The 100-hour moving averages at 1.0003. The 200 hourly moving averages below at 0.99838. The current price is trading between these levels at 0.99942.

These moving averages will eventually lead to a change in bias to the upside or downside. Granted, the price has been trading above and below them for the past 6-7 hours as traders have not been pushed by the jobs report. The high price reached another swing zone between 1.00221 and 1.00328 but found sellers.

It’s like that.

The market seems content with the status quo. The parity level is still a key level and the price action above and below since August 19th suggests comfort around the level, at least for now.

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