EURUSD helped by German ZEW data today
The EURUSD has moved higher today after basing near a swing area at 1.10843-859 and getting some help from better German and EU ZEW economic sentiment today.
The price did run to a high of 1.11174 but stalled just ahead of the 100 and 200 hour MAs at 1.11182 and 1.11193 respectively. The price is currently trading at 1.1110.
The buyers are more in control on the day, but there is a battle going on after the MAs stalled the rally. Buyers need to see that area broken. Shorts in the EURUSD want to see it hold.
On the downside, the 1.11005 to 1.11038 area will be eyed on more downside. Go below and the buyers today will likely become more nervous. Stay above, and there is the chance for more upside with the reward being a break above the MAs.
