EURUSD moves lower on the more hawkish Fed cut

The EURUSD moved down to test the 50% of the range since 2022. The price moved below that midpoint earlier on November on the way to the low at 1.0332 (the lowest level since November 29, 2022.

A move below the 50% will have traders looking toward a swing area between 1.0348 and 1.03657. Below that and the 2024 low at 1.0332 would be targeted.

Hold the 50% and the swing area between 1.0448 to 1.0461 becomes upside resistance.

This article was written by Greg Michalowski at www.forexlive.com.