Moved above the 100 hour MA and 100 day MA
The EURUSD has moved up to test its 200 hour MA at 1.2062. The pair has previously moved above its 100 hour moving average at 1.20278, and 100 day moving average at 1.20498. The 200 hour moving average is the third and final upside MA target. Getting above would be more bullish.
Recall on Monday, the price moved above the 200 hour moving average briefly on it’s corrective move higher, only to rotate back below the level on the the very next hourly bar. That price action may give some traders cause for pause at the 200 hour MA again, and that is what we are seeing on the first look.
However, there is also support from the 100 day and 100 hour MA below. So traders may look to start a new battle between the MA levels. On a break above the 200 hour MA (or back below the 100 day and 100 hour MA), there should be momentum in the direction of the break.