The EURUSD coming into the US session had bounced near the 200-day MA and the 50% midpoint and looked toward the 100-day MA at 1.08549.
The price did break above that 100-day MA, and in doing so, moved up to test the next target at 1.08656. That level is home to swing levels going back to February (see red numbered circle on the chart below). Sellers leaned and pushed back to the 100-day MA.
Buyers and sellers are more in balanced between those levels with traders now looking for the next shove either below the 100 day MA or above the swing level.
EURUSD bounce off 200D MA, and finds sellers at swing area
This article was originally published by Forexlive.com. Read the original article here.