Still eyed above
The weaker ISM data did help to push the EURUSD back higher after a little dip before the data, but the high has so far stalled ahead of the key 100 day MA at 1.14772 level. A move above is still eyed as the next hurdle for the pair (see earlier post).
Drilling to the 5 minute chart, although there is good resistance at the 100 day MA, the price has trend-like tendencies today. There have been 3 pushes higher with modest declines (see yellow area) that have stalled near the 38.2-50% of the legs higher. The currently 38.2-50% comes in at 1.1452-573 area. Stay above, and the trend move is still in tact. Move below and the trend waters are more muddy with the 100 bar MA (blue line in the chart below) at 1.14425 another hurdle to get below.
