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.
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.