The EURUSD fell to new session lows in early US trading, briefly dipping below the swing area low at 1.17109, reaching a session low of 1.1702. However, momentum quickly faded and the pair rotated higher.
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.
The subsequent rebound took the price briefly above the 100-hour moving average at 1.17334, as buyers and sellers jockey for control into the weekend. However, that upside momentum also stalled, and the price has since returned to trade back within the broader swing area (highlighted in yellow on the chart). The bias is more neutral below the 100 hour MA.
With London and European traders heading for the exits, the pair remains in a battle for directional conviction.
For the week:
Low: Monday’s bottom at 1.16142, near a key swing level. Holing that swing area gave buyers a level to build.
High: Thursday’s peak at 1.1788, tested swing highs from July 4–5 and gave the sellers what they needed to see
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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