That is good to know).
Since then, the price did move below that floor level (yesterday in the NA afternoon), and found selling pressure. However, the low price yesterday fell short of the next target at the 61.8% retracement of the move up from the end of October low at 1.39837, and the price started a rebound back to the upside.
In trading today, the price in the Asian-Pacific session extended back above the 50% retracement level at 1.40135, but only by a few pips before rotating back lower. The next subsequent high did find willing sellers against the 50% retracement level pushing the price back through the 1.4000 level.
This time the subsequent move lower, did extend to the 61.8% retracement at 1.39837. The low price reached 1.39840 as buyers leaned against the target.
The buyers then pushed the price back to the upside and is currently trading back above the 1.4000 level.
If I were to define the key borderlines (resistance and support targets in the up and down market) resistance would be focused at the 50% midpoint 1.40135 followed by the falling 100 hour moving average at 1.40208
