EURUSD tests its 100 hour MA

Technical Analysis

Author: Greg Michalowski | eurusd

Sellers lean on first look

Admittedly, the talk is on the Amazon/Whole Foods deal, but as per the earlier post, the buyers took more control after failing on the move below the 1.11609-1.1171 level yesterday (and into today).  

The price of the pair has pushed higher as European trader look to start their summer weekend.   I am not all that surprised.  

The pair has reached its 100 hour MA at 1.11956 level.  The 38.2% of the weeks trading range is around the level. The high stalled at 1.11979 and has backed off a bit.   

Traders/buyers looks like they took profit.  If there is another push before the close, the 200 hour MA, 100 bar MA on 4-hour chart and the 50% of the weeks range comes in at 1.1213 area. That should be a tough nut to crack on a test.