EURUSD sellers lean on the test of the 100 hour MA

The EURUSD moved modestly higher in the early trading for the day and reached up to the 100-hour MA at 1.09687. Sellers leaned against the level keeping the sellers in play. The price is modestly off the level at 1.0963 currently.

On the downside, remember, the price yesterday moved down toward the 100-day MA yesterday and found early buyers. Last week, the 100-day MA was tested on Wednesday and Thursday.

So the 100-hour MA above, and the 100-day MA below continue to define the range for the EURUSD. Still waiting for the break outside one of those MA levels.

See video here

This article was written by Greg Michalowski at Source