EURUSD technical update: The EURUSD fails above 200 hour MA

The EURUSD ran through resistance up to 1.0896 when I looked at the EURUSD earlier. That gave buyers more control and they took the price up to the 100 and 200-hour MAs.

The price of the EURUSD moved above the 200-hour moving average but could not sustain momentum. The price had rotated modestly to the downside and tested the 100-hour moving average at 1.09123.

Is the price action more neutral near the moving averages? It is Friday, but price action over the last few hours suggests that there is a lid once again against the 200-hour moving average. Stay below and move below the 100-hour moving average opens the door for a potential retest of the swing area between 1.0886 and 1.0896.

This article was written by Greg Michalowski at Source