Moves above 1.3000 but Dudley comments pulls the punch bowl away
The EURUSD popped even higher on the back of a disappointment in the CPI data, but NY Fed's Dudley is now out with comments about tightening. That has sent the dollar and the EURUSD moving the other way. The EURUSD has moved from a high of 1.1321 to a low of 1.1272, Suddenly the market is not one way.
Looking at the 4-hour chart, the 50% of the move down from the May high to the June low comes in at 1.1262. If buyers want to buy a dip, that is where I would look for traders to enter. A move below and the 1.249 is the day's midpoint. The 100 day MA is at the 1.1227 level. That is a no-no level to go below for the bulls. The price moved above that level earlier today and scooted higher.
