EURUSD retesting the 100 hour MA

Technical Analysis

Author: Greg Michalowski | eurusd

The move above the 100 day MA during the Lagarde press conference failed

The EURUSD is retesting the 100 hour MA at 1.20209. Earlier in the day, the price stalled at the level and bounced. The bounce ended up breaking above the 100 day MA above during the Lagarde press conference, but has given up those gains (and failed). 

The move above the 100 day MA during the Lagarde press conference failed
If the sellers are to take more control, getting and staying below that 100 hour MA will be needed. Recall from yesterday, there were 6 straight hourly bars below the MA line with limited momentum below the level.  

On more weakness the trend line cuts across at 1.2006. Below that and the 200 hour MA at 1.1984 would be eyed. 

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