In the Asian session today, the pair finally broke above the 200-hour MA (green line), extended through the 100-hour MA, and reached the swing area between 1.15239 and 1.15295. But in early European trading, momentum stalled, and the price rotated back lower.
Break lower: Opens the door toward 1.1486 and the weekly low at 1.1445
The battle at the moving averages is back on for now. How will the market respond at the key confluence area. .
100/200-hour MAs: 1.1507 – 1.1513
Low for the week 1.1445
Swing area: 1.15235 – 1.15295
Buyers are trying to wrestle back control and MA levels
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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