EURUSD tests the 100 hour MA as ping pong continues

Technical Analysis

Author: Greg Michalowski | eurusd

200 hour MA holds support. Now 100 hour MA stalls the rally.  

The dollar has moved lower in the NA session, and in doing so, the EURUSD moved from near the 200 hour MA below (and 50% retracement) at 1.2304/05,, to the 100 hour MA (blue line) at 1.2342.  The sellers came in near the MA line, and the price is trading at 1.2334 currently. 


For the week, the pair remains in a 135 pip trading range and below the 50% of the trading range over the last 3 months (see earlier post "EURUSD remains between 100 and 200 hour MA and in a confined trading range...")