Just above the 100-day MA sits a swing area between 1.3360 and 1.3378, aligned with the falling 100-bar moving average on the 4-hour chart. Buyers will need to reclaim and hold above this zone as well to build confidence in a sustained move higher.
However, the real test is happening now—the rubber meets the road at the 100-day moving average. Will the buyers win and attack the next target? Or will the sellers lean and ultimately make another run at the 38.2% retracement at 1.13426.
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