As the trading day works to the close, the EURUSD has stalled at highs near a key swing area, and moved down toward the 200-hour MA at 1.08519 and then the 100-hour MA at 1.08347.
Those two moving averages will play a key technical role in the new trading day. Move below would increase the bearish bias and have traders looking to the 100-day MA at 1.08117.
Conversely, if support buyers lean and hold support, the swing area up to 1.0887 and the high from May at 1.0894 would be targeted once again.
EURUSD looks to test 100/200 hour MAs
This article was originally published by Forexlive.com. Read the original article here.