Forex technical analysis: EURUSD hangs around MAs and 50% retracement

Moves above and below MAs fail in up and down session

The EURUSD is up to a up and down start to the week. The price action has taken the price above and below the 100 hour MA at 1.1931 and above and below the 200 hour MA at 1.1958. The price is also currently hanging around the 50% of the 17 day trading range (see red box in the chart below) also at the 1.1958 level. The current price is trading at 1.1956.

On the move lower today, the price tested the 1.1910 level (low reached 1.1914). The swing low from June 2016 came in at 1.1910. In early August the high extended to 1.1910 and reversed lower. Later in August the price moved above the level and the price has moved above and below the level since that time.

We are trying to extend to the topside as I type with the price trading 1.1960. Buyers are trying to make a play in that direction. They will want to see upside momentum take the price higher now.