Low risk support area
The EURUSD has wandered back down to test the 100 bar MA on the 5 minute chart and the 50 % of the last leg higher. Risk is low at the level. The reward might not be all that great too as the activity is slowing, but if the level does hold…well who knows. The pair has been trending today. Admittedly, the peak at 1.12128 was 2.2 pips short of the July high. So was a nice level to stall, but this is the first real test for the bulls/buyers.