EURUSD keeps under 100 hour MA

Technical Analysis

Author: Greg Michalowski | eurusd

100 hour MA at 1.21455

The EURUSD fell below the 100/200 hour MAs earlier today and in the process corrected to the 50% retracement of the move up from last week's low at 1.21209.  

100 hour MA at 1.21455
The price low  for the day reached 1.21153 before rebounding. 

The price move back to the upside off the day's lows, has been somewhat modest and has been able to find resistance back against the 100 hour MA at 1.21455 (the high reached 1.21469).  

Although below the 100 hour MA, the pair remains above the 200 hour MA at 1.21313.  Note also there is a swing area between 1.21313 and 1.21369 (see red numbered circles). 

Staying below the 100 hour MA keeps the bias tilted to the downside.   However, getting and staying below the 200 hour MA would give sellers more confidence to the downside control.  

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