The rising 100 hour moving average 1.16258

The EURUSD moved higher in the Asian session and in the process, moved close to its 38.2% retracement of the move down from the September high at 1.16705. The high price reached 1.1667 within about three pips, before rotating back to the downside.

The new low reached in the current hourly bar extended to 1.1632. That approached its rising 100 hour moving average 1.16258, but has seen a bounce back up toward 1.1643 currently.

So from a technical perspective, resistance held ahead of the 38.2% retracement and support held ahead of the rising 100 hour moving average. It will need a break above the high level or below the low level to tilt the bias in the direction of the break.

Overall the price is lower on the day, and has been consolidating over the last three days in up and down trading.

Taking a broader look at the daily chart, the high prices reached over the last three days has seen the price stalled near the swing lows from the month of August which cut across at 1.16634 (the high price from Tuesday reach 1.1668 and the high price today reach 1.1667).

EURUSD on the daily chart