The EURUSD is ticking lower in the US session and in the process is moving away from a swing area between 1.07609 and 1.07767. Staying below below that area keeps the buyers firmly in control.
The Federal Reserve cut rates by 25 basis points yesterday, but the thoughts are that a Trump presidency will not be great news for EU given threats of tariffs.
The EURUSD closed last week at 1.0887, and moved up to a high of 109.365 on Tuesday. That move to the upside tested its 100-day moving average of 1.09418 before starting the slide on the election results. The corrective move higher yesterday moved up to test its falling 100 bar moving average on the four-hour chart at 1.08241 before rotating to the downside once again
