FX: Forex technical analysis: EURUSD gets close to 100 hour MA test level
100 hour MA at 1.1165 currently
The EURUSD has moved higher on the back of the weaker than expected pending home sales data. That level comes in 1.1165. The high price extended to 1.11597. The price is back down to the 1.1145 area fairly quickly - perhaps a signal that sellers area anxious to sell against the risk defining level on rallies. A move back below the 1.1127 level will be eyed by sellers now. This is the 38.2% of the move down from last weeks high and also the low price from Friday's trade.
