38.2% of the move down from the November (election) high.
The EURUSD took one last look up at the 1.0706 level. That level is the 38.2% of the move down from the Election Day high. It was the level that we needed to get and stay above this week if we were going higher. We tried earlier this week and again today, but each time the price came back off.
Next week that level will continue to be a level of importance from a technical perspective. Get above and stay above is more bullish. Stay below and the bears may look to take the pair's price back down.
