Technical Analysis

EURUSD backs off after test above 100 hour MA fails

Coming up to the Friday London fixing

The EURUSD has backed off after a run above its 100 hour MA failed. That MA had not been crossed since September 26th.  Buyer did take the price to a high of 1.15493, but as we approach the London fixing, sellers are pushing the lower.  The low on Tuesday at 1.15056 and the low for the day and week are targets as long as the price stays below the 100 hour MA. 

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