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EURUSD makes a new near 5 month high, but falls short of the 50% target

EURUSD makes a new near 5 month high, but falls short of the 50% target

The EURUSD moved lower in the early Asian session and in the process tested the 200 hour moving average 1.03537 currently (greenline in the chart above). The price dipped below that level on a number of hourly bars, but could not sustain momentum below that level. Sellers turned buyers once the price started trade more above its 100 hour moving average and back above its 100 day moving average. The 100 hour moving averages currently at 1.0378. The 200 day moving average is at 1.0383.

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Posted: Nov 28 2022, 14:55
Author Name: forexlive
Views: 111588

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