EURUSD retrace back to the 200 hour moving average

The EURUSD is back up retesting at 200 hour moving average at 1.10026. The high price just reached 1.10019 just short of that moving average level.

Although the high has so far stalled ahead of the 200 hour MA, it did move into the swing area between 1.00996 and 1.00068. Above that area is the falling 100 hour moving average (blue line) currently at 1.10099. Getting above all those levels would shift the buyers further in the upward/bullish direction. Looking back in the Asian session, the high price today reach 1.1006 before starting the run to the downside.

Helping the rotation back to the upside today was the failure of the break below the floor between 1.09610 and 1.09653 that was defined last week and supported yesterday (see green number circles in the chart above). The inability to stay below that floor was a disappointment for sellers. The low price today stalled ahead of a lower swing area between 1.0933 and 1.09378.

So another volatile day. Buyers are looking to retake more control, but they need to get above the 200 hour moving average, swing area and 100 hour moving average up to 1.10099 now.