100 hour MA is being approached
Yesterday, the EURUSD trended to the upside, in a steady progression. The rally got a kick higher around this time yesterday when the price moved above trend line resistance and the 100 hour MA.
The pair is back down testing the 100 hour MA at the 1.1219 level That moving average is sitting between the 38.2-50% of the move higher. There should be support buyers against the level. For shorts, looking for more, we will need a break and stay below. The next target is 1.1198 (the 50%).
On a correction, traders will be eying the 1.1240-48 area (see chart below). IT is the 38.2-50% of the move lower and also was a swing low during yesterday's move higher and a low earlier today.
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