Buyers stall the fall, but upside limited in up and down session
The EURUSD has had an up and down session with no clear winner. The range is only 33 pips. The 22 day average (around a month) is 78 pips. So there is room to roam given a push (higher or lower).
What I can say from a technical perspective, however, is that the dip buyers leaned ahead of the 100 hour MA (blue line in the chart below) at 1.15654. The price started to run away from the 100 hour MA last Wednesday and has stayed above it since.
As long as the price remains above that MA line, the buyers on the corrective move higher are still in control, and the door remains open for a retest of the 100 day MA at 1.1626. The 50% of the move down from the September 24th swing high is also near that area at 1.1623 (of course the highs from Friday at 1.1610 and yesterday at 1.1606 are other upside hurdles).
A move below the 100 hour MA will disappoint the buyers and will look toward the rising 200 hour MA at 1.1531.
