100 hour MA, 200 day MA and swing area is below
The EURUSD is so far staying above support defined by the:
- 100 hour MA at 1.13547
- 200 day MA at 1.13466
- Swing area at 1.1343 to 1.13469
- 200 week MA this week is at 1.13444
The range today is only 23 pips. At the low, the price dipped below the 100 hour MA by a pip (the MA is risiing currently). The low reached 1.13507. The high reached 1.13736.
With such a narrow trading range, it is in your favor to expect an extension one way or the other. Clearly the lower area has the levels lined up from 1.1343 (lower swng level and 200 week MA), to 1.13547 (100 hour MA). A break would look toward the 38.2% at 1.13234 and then the 1.1300 area.
On the topside, if the support holds, just moving to new highs are more bullish. The 61.8% of the 2019 trading range comes in at 1.13927. That would be a target to get to and through for buyers. Above that and the highs for June at 1.14115 will be targeted (over time).
