EURUSD turns lower after failing at key resistance – eyes support at MAs ...Middle East

Following the rejection at resistance, the pair has rotated lower and is now testing a key support zone defined by the 200- and 100-hour moving averages, currently at 1.1208 and 1.1197, respectively. These levels will serve as important short-term bias indicators. Holding above the MAs would keep the door open for renewed upside attempts. However, a sustained move below would tilt the bias back in favor of the sellers.

Summary:

1.1265–1.1276: Key swing area; failed break today; former support turned resistance

Support Targets:

1.1197: 100-hour moving average

1.10636: Low from last week

1.10395: 38.2% retracement of the move up from the January 2025 low

This article was written by Greg Michalowski at www.forexlive.com.

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