100 hour MA and swing area at 1.1300 area
The EURUSD is trading up and down today, but has held key support on the dips/lows today.
Looking at the hourly chart, the low for the Asian session bottomed at 1.1301 and 1.13027. The London morning session bottomed at 1.13003. The 1.1302 was the swing high for the week of June 29th and then a swing area since that time. The 100 hour MA comes in at 1.1303. The price peeked below that level at the London low, but only briefly. It will take a move below that level to solicit more selling now.
The current price is at 1.1332 well off that support level. On the topside, there is a swing area at 1.13449 to 1.13527. The high for the day has reached 1.13379. Like the support below, it will take a move above that "ceiling" area (and stay above) to solicit more upside momentum. ON Thursday, the price moved above that level for 5 hourly bars on it's way to the high for the week at 1.1370. However that break failed and the next corrective high (on Thursday) stalled in that yellow area (see red numbered circle 6).
The support and resistance areas are defined. The market has to make the next push.
