Technical Analysis

EURUSD grinds to the 100 hour MA

Sellers lean on the first test

The EURUSD has grinded up to the 100 hour MA at the 1.1495 level. The high reached 1.14938 – just short of that MA level. Sellers (profit takers/new sellers?) leaned against the level. Risk could be defined and limited against the level.   Move above and there should be more buying. 

A topside trend line at 1.1509 if broken would also increase the bullish bias technically.  

ForexLive

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