EURUSD stays above hourly moving averages today, but upside is limited.

The EURUSD did find support bars against its 200-hour moving average 1.05665 (green line on the chart below), and remained above its rising 100-hour moving average 1.05616 as well.. That’s a short-term tilt to the upside.

The not so hot news is that the high price stalled near the 1.0600 level after extending above the swing eyes from Tuesday and Wednesday at 1.05941. The price high also stalled ahead of the 50% midpoint of the move down from the September high at 1.06087, AND also the 38.2% retracement of the daily chart of the move up from the September 2022 low to the July 23 high at 1.06108.

So although the buyers did their job against the hourly moving averages, they didn’t exactly run with that short-term bullish mandate.

This article was written by Greg Michalowski at Source