200 bar moving average on 4 hour chart is also implied
The EURUSD has moved to a new session high and moves closer to the 61.8% retracement of the move down from the April 15 high. That level comes in at 1.08885. Just above that level is the 200 bar moving average on the 4 hour chart at 1.0891. A swing area from highs on April 16, April 20 and April 22 come in at 1.0896 to 1.0904.
Target levels are being approached and that gives some cause for pause as traders leaned against resistance
See earlier post outlining the technical targets.
