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<p>.</p><p>The EURUSD move lower after the US jobs report, and in the process dipped below the lower end of a swing area at 0.9733. The underside of a broken trend line was also near that level (on the hourly chart). However the initial dip could not be sustained and the price did rebound back toward the 50% midpoint of the 2 week trading range. That level comes in at 0.97667. Sellers came in near that level and pushed the price back down toward 0.9750.</p><p>So the price remains above the lower end of the swing area near 019733 but below the 50% midpoint at 0.97667. That tilt the bias still in favor of the sellers. For dollar buyers, it would take a move back above the 50% and the 200 hour moving average at 0.97874 to the gate the bearish tilt seen in the short-term.</p><p>On the downside, getting below the 61.8% retracement of the same 2 week trading range at 0.9712 would be a another step in the bearish direction.</p><p>US stocks are remaining under pressure with the Dow industrial average down around -500 points or -1.68%, and the NASDAQ index down -300 points or -2.7%. </p><p>US yields are higher but steady. The 2 year yield is up around 5.4 basis points at 4.303%. The 10 year yield is up 6.8 basis points at 3.89%</p><p>The Fed terminal rate remains somewhat steady at 4.65%. The Fed dot plot showed a terminal rate of 4.6% (so 4.5% to 4.75%).  At 4.65% it is marginally above their terminal rate currently.</p><p>Below is my post jobs video outlining the levels in play for the major currency pairs.</p>

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