UPDATE: EURUSD holds the 100 hour MA
Broke the lower trend line but the EURUSD holds the 100 hour MA
From a post earlier today:
The lower trend line comes in at 1.1312 (and moving higher).The lagging 100 hour MA is not far away from that lower trend line at the 1.13058. Apart from a quick dip below on the ECB day last week, the price has not been below the 100 hour MA since May 31. That remains a key barometer on the downside.
The trend line was busted but the 100 hour MA stalled the fall as buyers leaned.
The price can still break that level (still a key barometer), but the buyers off the lows are now hoping for a reversal back toward the topside trend line. First stop will be the close from yesterday. We are down on the day below the 1.1325.