EURUSD bounces back above Asian low after test of lower swing area holds support.

Important Update for RobotFX Visitors

We want to sincerely apologize for any confusion or inconvenience caused by our recent website restructuring.

The main RobotFX hub has officially moved to our new, streamlined address at robotfx.org (without the "www" prefix). While our main operations have shifted, we want to reassure you that this archives site, old.robotfx.org, will remain fully active. You can still access our complete library of past posts, historical trading analysis, and legacy articles right here.

However, for the latest updates, newer content, and a significantly faster, more optimized browsing experience, we highly recommend heading over to our primary home at https://robotfx.org.

Thank you so much for your continued support and patience as we improve our digital services.

EURUSD trades near mid-range after support holds

EURUSD holds ahead of lower swing area target

The EURUSD moved lower in the US morning session and in the process tested a lower swing area between 1.01148 and 1.0121. The low morning session reached 1.0122. The inability to extend lower, has seen some profit taking buying as the pair remains stuck in the range that has confined the pair between 1.0096 and 1.0283 over the last 12 trading days.

With the price near 1.0160 is trading near midrange. Earlier in the session, the pair moved up to test the 100 hour MA but found willing sellers.

So overall, the pair remains below the MAs on the topside, and above the swing area below. In the view of the 12 days, being below the 100/200 hour MAs is a downside tilt, but holding the lower extreme over the 12 days, continues to tell the story, that the EURUSD remains in the mud.

/inflation

Trading analysis offered by RobotFX and Flex EA.
Source