200 hour ma at 1.08633. Low reached 1.08592 before quick bounce back higher

The EURUSD peeked below the 200 hour MA at the 1.08633 level on it's way to new trading lows for the day at 1.08592. However, the price quickly pushed back higher to the 1.09000 area which is close resistance in trading today (see prior post outlining the levels importance in trading from a technical perspective). So overall, the action is following the script (give or take a few pips on the quick failed break below).

The price is currently trading at 1.0882 - off the 1.0900 level. Technically, the pair is in that area where it can break up or break down. The 4 PM London fixing flows may be an influence on which way that break goes.

The S&P is up 5 points now after being up 13+point earlier. The Nasdaq is up 10 points (0.10%) after being up about 40 points.