EURUSD cracks below the 100 hour MA. Price is back between the 100/200 hour MAs
The EURUSD has slipped back below its 100-hour moving average as the U.S. afternoon session gets underway, shifting the near-term technical picture. The 100-hour MA currently sits at 1.14238. Earlier today, buyers defended that level and pushed the pair higher, but the rebound stalled at 1.14414, well short of the Asian session high at 1.14470.
The break back below the 100-hour moving average neutralizes the short-term bullish bias. To strengthen the sellers' case, however, they will need to force the price below the rising 200-hour moving average at 1.14090. The pair has remained above that key average since Thursday, when it successfully held as support ahead of the U.S. jobs report before rallying to a fresh high of 1.14720, its strongest level since June 22.
Since peaking on Thursday, however, the pair has been grinding lower. On Friday, the 38.2% retracement of the decline from the May 29 high, at 1.14618, capped the rebound and gave sellers the technical green light to reassert control.
The focus now shifts to whether sellers can build on today's break below the 100-hour moving average and press toward the 200-hour MA, or whether buyers will once again reclaim the level. Yesterday's price action showed just how important that moving average has become, with the pair trading above and below it before buyers ultimately took control and pushed to fresh session highs into the close.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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