EURUSD tests key support levels, Decision time for buyers and sellers

<p>The EURUSD is back down testing a cluster of support including its:</p><ul><li>100-day moving average at 1.0770, </li><li>Rising 200-bar moving average on the 4-hour chart at 1.07644, and </li><li>50% midpoint of the November trading range at 1.0766.</li></ul><p>The low of a swing area between 1.0768 and 1.0781 is also been tested. </p><p>Buyers and sellers have a choice here. </p><ul><li>Buy against the low of the area at 1.07644 with a stop on a break below the level, </li></ul><p>or</p><ul><li>Sell on a break below 1.07644 (or hold shorts from above and look for a break below). </li></ul><p>Decision time for both buyers and sellers. Break lower increase of various bias or hold support and bounce back to the upside once again.</p>

This article was written by Greg Michalowski at www.forexlive.com.