Can the price get and stay above the 1.16116 level now
The EURUSD has moved back above its 100 hour moving average and into the swing area between 1.16016 and 1.16116 (was the swing lows from September November 2020). The price high as reached 1.16127, just above that level but has backed off. The question now is can the price get above that level and stay above that level. Close risk is now the 100 hour moving average 1.15982.
The buyers are making an intraday, short term play with the move back above the 100 hour moving average. Can they complete that play by getting above and staying above the 1.16116 level? If they can't, a rotation back toward the lows from last week would be expected.
