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EUR/USD disappoints after it fails to hold above technical level

Yesterday the EUR/USD lifted to its best level since February 2. The EUR/USD reached 1.0888 and as noted that rise ran into a technical brick wall, provided by the 50 day moving average, in place then at that exact point.The noted drop that followed saw intraday Euro longs forced out of the trade once it fell back below its 200 day moving average (1.0828). The low seen was set at 1.0803, but it did manage to edge higher into the US close (1.0823), but as you can see that close was once again underneath that 200 day moving average. That 200 day moving average is unchanged this morning by the way. The price action right now is flipping around that price point as I write. The range so far today has been covered by 1.0815 to 1.0833. It is just now trading at 1.0826

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