EURUSD skims the 100 hour MA
The EURUSD is continuing to skim along the 100 hour moving average currently at 1.06164 and moving higher. Looking over the last few days, the price has been testing that MA line, only to have limited success on a break with further momentum. The MA is moving higher which makes the hurdle easier to break, but there remains a reluctance.
Moreover a move below runs into other targets from recent lows including the swing area between 1.0584 and 1.0594, and the 50% midpoint of the move up from the December 7 low at 1.05889.
As I type, the 100 hour MA is being broken. Now the question is “Do the sellers keep the momentum going?”.
This article was originally published by Forexlive.com. Read the original article here.