Finding resistance at the 100 hour MA
The EURUSD has seen up and down trading since the announcement. Let's face it...it is hard to decipher the Fed and that is reflective in the price action. In the earlier post, if the 100 hour MA held, the upside had a chance to be explored. That level did not hold and the price nearly did a lap of the price action from the statement. The rally off that low moved back to the 100 hour MA (at 1.1180 - the high moved to 1.1184), and we are seeing a rotation back lower.
Can we see another push? Sure...The dollar is still lower since the start. It just is not running. But if that 100 hour MA can be broken (big IF) and if the 100 day MA can be broken at 1.1193, you can see a run. Until then the market may move lower. It may move higher but it will still be looking for a break. PS on the downside the 200 day MA remains the level to get and stay below at 1.11476 currently.
