February 9, 2010 11:52 AM
Markets react to EU comments on Greece. Tests the 2009 midpoint level at 1.3800
By fxdd
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0A comment by a German official regarding support for Greece has sent the EURUSD sharply higher and the dollar lower as funds flow back into the risk currency pairs including the USD and JPY.
The EURUSD moved back above the 100 hour MA at the 1.3743 and held the level on a correction lower. The low price came down to 1.3751. The pair is now up testing the 1.3800 level which is the midpoint of the 2009 low to high trading range.
A break could see the price move up to test the 200 hour MA at the 1.3843 level.
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