Forex technical analysis: EURUSD bounces off MA/retracement support

Technical Analysis

Author: Greg Michalowski | eurusd

200 week MA in play as well.

For the EURUSD:
  • The 200 week MA comes in at 1.1767 this week
  • The 100 hour MA is at 1.1767
  • The 50% of the move up from the low last week comes in at 1.1767.

That cluster of technical levels are stalling the fall in the pair. The low just reached 1.1769 and bounced. 

The pair trades below the 200 hour MA at 1.17976 (that is topside resistance now).