EURUSD Prices Gets A Slight Bounce After Testing And Holding Support At Parity
During the London morning session, the EURUSD price reached a low of 0.99993, which is only a hair below the parity level. Buyers were drawn to the level because of its inherent support, which resulted in a bid being placed against the level as an option. During the week beginning December 2, 2002, the price was most recently seen trading at parity. A successful test and purchasers maintained their position.
Following the next move to the upside, the price on the hourly chart shown above has moved closer to the swing low reached on Friday, which was located at 1.00705. The top price hit 1.00686, which was barely below that objective.
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