Price back above 100 hour MA
Sellers had the advantage coming into the NY session. The price moved below the 100 hour MA after making some key tests and breaks near the session highs today (see earlier post).
Staying below the 100 hour MA at 1.11176 would have been nice for the bears/sellers. That was not to be. The price has move to a new NY session high at 1.11279. We currently trade at 1.11243.
The technical waters are now more muddy. The sellers had a shot to keep the pressure on, but the buyers still have some overhead resistance at the 38.2%, the 200 day MA and the 200 hour MA. So we trade between support and resistance.
Sellers are disappointed, but work to do for buyers too. Waters are muddy.
