EURUSD rips back to unchanged on the day

Sellers from earlier forced to buy

The EURUSD at the start of the NA session was staring at the cluster of support against the 1.0936-40 area (200 hour MA, 50% and low from Monday). The low could only squeak out a 1.0945 print, and the buyers came in.

The price has been ripping higher since and is back to unchanged on the day at 1.1010 (high reached 110.17 so far. The underside of the broken trend line comes in at 1.1027 and that would be the next upside target. The 200 day MA is above that at 1.1046.

Does the EURUSD want to go into the ECB decision around the 200 day MA extreme or nearer the more central 100 hour MA below (blue line at 1.0984). Right now, the shorts are feelling the pain.