A large batch of option expiries at the 1.1700 strike likely contributed to the earlier downside pressure as traders pushed toward that strike price level near expiration time.
With London and European traders heading for the exits, the pair remains in a battle for directional conviction.
Low: Monday’s bottom at 1.16142, near a key swing level. Holing that swing area gave buyers a level to build.
As we head into the weekend, the price is nearer the highs and above the 50% midpoint of the July trading range. The 200 hour MA on the downside would also ultimately need to be broken to increase the bearish bias going forward. That comes in at 1.1677.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about eurusd retraces into moving average was published today ( ) 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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