The EURUSD continued its run from earlier today, but did run into resistance at the 100-day MA at 1.0785. The price has since rotated lower and is now back down testing its 200 and 100-hour MAs at 1.0754 and 1.0749. Those levels are now the next barometer for this pair. Buyers have a shot to stall the fall and work back to the 100-day MA.
For the sellers from above near the 100-day MA, would want to see the hourly moving averages broken to shift the bias more to the downside to give move confidence that the corrective move higher is up.
Key level for both buyers and sellers. Be aware.
This article was written by Greg Michalowski at www.forexlive.com. Source