EURUSD stays below the 100 day MA on retest

The 200 day MA and 200 hour MA has been a barometer for bulls/bears over the last few days

The EURUSD broke above the 100 day MA and 200 hour MA yesterday on the back of the Fed and Yellen's comments.

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Today, those MAs were tested and then broken on the way toward the 100 hour MA (blue line on the chart above). Some concerns about the tax reform vote, sent the dollar back lower in the NY afternoon session and those MAs were retested from the bottom again. This time, the 100 day MA at 1.1800) stalled the rally (the high reached 1.1799). We have been trading above and below the 200 hour MA at 1.17936 .

As we head toward the close and into Friday, the MAs will continue to be the barometer for bias. Stay below more bearish. Move above and I would expect more interest from the long side once again.