The EURUSD yesterday had an up and down day with the price moving lower toward the end of day as the dollar rebounded post-Trump pull back on tariffs. The price low did move back down to test the 200 hour MA (green line) for the second consecutive day and found willing buyers (again). The price closed the day between the 100 hour MA above and the 200 hour MA below.
Today, the price stepped higher in the Asian-Pacific session but consolidated in the early European session. The last 4 or so hours have seen a run to the upside that has now taken the price toward highs reached yesterday. Swing highs over the last 5 trading days have been between 1.1089 to 1.11062 ahead of the highs for the year up at 1.11448.
Traders will be eyeing up to 1.1106 as the next clue. If looking for a place to sell this area will be a low risk area. Move above 1.1106 is the risk.
If sellers prevail, there is a possibility to rotate back toward the 100/200 hour MA over time.
What we know is the 200-hour MA had done its job the last three tests (it also stalled the corrective fall last Wednesday too). So store that away for your key trading clues
