EURUSD dips to new lows on the day

The EURUSD moved higher in the Asian session and in the process, moved close to its 38.2% retracement of the move down from the September high at 1.16705. The high price reached 1.1667 within about three pips, before rotating back to the downside.

The new low reached in the current hourly bar extended to 1.1632. That approached its rising 100 hour moving average 1.16258, but has seen a bounce back up toward 1.1643 currently.

Overall the price is lower on the day, and has been consolidating over the last three days in up and down trading.