100 and 200 hour MAs converged above.
The EURUSD has waffled back and forth in trading today. Earlier in the fall stalled at a lower trendline on the hourly chart. The subsequent rally the price back up to the 100 hour moving average. The pair even peaked above the MA line but stalled quickly and started the fall back down.
The current hourly bar, dipped below the trend line support, but could not extend the downside with momentum despite making new session lows.
So we have seen failure to break higher on a technical break above and are now seeing a potential failed technical break below a trend line on the current hourly bar. Sellers will be anxious to see more momentum lower soon. If not we could see a snap back higher in the up and down day for this pair.
