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The EURUSD stay below the 50% midpoint of the 2 week range
So the price remains above the lower end of the swing area near 019733 but below the 50% midpoint at 0.97667. That tilt the bias still in favor of the sellers. For dollar buyers, it would take a move back above the 50% and the 200 hour moving average at 0.97874 to the gate the bearish tilt seen in the short-term.
On the downside, getting below the 61.8% retracement of the same 2 week trading range at 0.9712 would be a another step in the bearish direction.
US stocks are remaining under pressure with the Dow industrial average down around -500 points or -1.68%, and the NASDAQ index down -300 points or -2.7%.
The Fed terminal rate remains somewhat steady at 4.65%. The Fed dot plot showed a terminal rate of 4.6% (so 4.5% to 4.75%). At 4.65% it is marginally above their terminal rate currently.
Below is my post jobs video outlining the levels in play for the major currency pairs.
