The EURUSD moved sharply lower today following headline-driven USD strength, breaking below key technical levels. The initial push took the pair under the 100-hour moving average and the 38.2% retracement of the move up from the March 27 low, both coming in near 1.0987. This break shifted short-term bias more negative and opened the door to further selling pressure.
The decline extended through the 50% retracement and a key swing area near 1.0938, signaling a potential trend shift. However, buyers once again stepped in near the 200-hour moving average at 1.09146, which also acted as support yesterday alongside the 61.8% retracement level. The market respected that level again today, leading to a rebound.
Now, the EURUSD is trapped between two key technical zones—with the 100-hour MA serving as resistance above and the 200-hour MA acting as support below. Traders will be watching for the next directional push to resolve this battle. A break above the 100-hour MA would shift bias back toward the upside, while a move below the 200-hour MA would reassert bearish control.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about eurusd breaks lower but bounces off the 200 hour ma again 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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