EURUSD pushes higher after soft CPI but stalls at key resistance ...Middle East

Earlier in the day, the price dipped but found strong buying interest at the rising 200-hour moving average, echoing support seen at last week’s lows. The 100- and 200-hour MAs, currently at 1.1421 and 1.1407 respectively, now serve as critical support. Staying above these levels keeps the bullish bias intact; a break below would tilt the bias back toward the downside.

Key levels:

Support: 1.1421 (100-hour MA), 1.1407 (200-hour MA), 1.1371

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

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