EURUSD trades above and below 200 bar MA on 4-hour chart

Technical Analysis

Author: Greg Michalowski | eurusd

MA near 1.1800

The EURUSD is higher on the day but has it's share of up and down price action.  


The pair found support buyers at the 50% retracement of the move down from the September 10 high at the 1.17641 level. That level was also near swing levels. 

The rise off that low was able to extend above its 200 bar moving average on the 4 hour chart (green line) currently at 1.17975 and the 61.8% retracement at 1.18001. The high price reached 1.1807 but fell short of a topside trend line which currently cuts across at 1.1811.  

The price has been trading above and below its 200 bar moving average on the 4 hour chart of late as traders await the next shove either higher (and above 1.1811) or back down toward support in the 1.17642 to 1.1771 area. 

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