EURUSD near highs but buyers are tired

Technical Analysis

Author: Greg Michalowski | eurusd

Trend line/50% stalling the rally.

The EURUSD was able to extend above the 200 day MA and even peek above the topside trend line on the hourly chart and 50% retracement. However, they were only little peeks. The price has wandered lower.

Trend line/50% stalling the rally.
We just dipped back below the 200 day MA at 1.11375. The price is not running but the buyers are tired (or out of steam). 

In the new day, if the buyers are to get a second wind, the price will need to extend above the trend line and the 50%.  Above that the next hurdle is the 200 hour MA at 1.1151.That would open up the upside space for more gains.  

Failure to do that, however, and we could see rotation in the new day back down toward the 100 hour MA at 1.11202. 

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