EURUSD faces resistance at key swing area as sellers look to regain control ...Middle East

Seller in the EURUSD - helped by lower inflation numbers in Germany and UK - took the price of the EURUSD back below a swing area between 1.0958 to 1.0964 and the rising 100-hour MA (blue line currently at 1.0946). The low reached down to 1.0933, but there has been a snapback push back above the 100-hour MA and back to the aforementioned swing area (up to 1.0964). So far, the swing area is stalling the rally. If sellers can stall the rally in this area, they stand a chance to take back some control on a move back below the 100-hour MA. If that can be done, traders would instinctively want to see the low for the day breached with the 1.0900 level (38.2% of the December range) the next major

Hence then, the article about eurusd faces resistance at key swing area as sellers look to regain control was published today ( Wednesday 20/12/2023 - 05:20 PM ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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