The EUR/USD halts its retracement at the 55 EMA on the 4 hour chart.

The Euro started to retrace today its recent drop versus the Dollar from the 1.3600 level as shown on the 4 hour chart below, but when it reached the 55 period Exponential Moving Average, it stopped there and tried to come back down. From this point on all we can do is wait and see if it comes back to the 1.3600 level or if it breaks the 55 EMA and continues to the 1.3700 level from where we may see a bounce to the downside. Let’s pay attention to that possible visit.