TECHNICAL ANALYSIS

EURUSD drops back to retest support on hourly chart


200 hours MA, trendline and swing zone tested again

EURUSD fell back to retest the 200 hour moving average at 1.21335, a swing area between 1.21315 and 1.21403 and an uptrend line near 1.2134. The pair moved above this level during the London / Europe session and retested earlier in the North American session.

200 hours MA, trendline and swing zone tested again

Today’s highs broke the 38.2% retracement of 1.21658, but couldn’t maintain momentum with every breakout.

Buyers and sellers therefore continue to struggle with a key support group trying to hold on.

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