EURUSD stalls at the 50% retracement.
The EURUSD is stalling at the 50% retracement at the 1.1009 level. However, the “risk off” mood of the markets may continue to put upside pressure on the EURUSD as traders scramble to cover EUR carry trade positions. If the mood in equities worsen from here, we could see the 61.8 Fibonacci retracement at the 1.1063 level or 200dma rather quickly. Support is at the 1.0950 level now.
