EURUSD corrects back to the 200 hour MA. Finds sellers. | Forexlive

The EURUSD has corrected higher off the low for the day at 1.05856 and moved up to test the 200 hour MA at 1.06142. The high price reached 1.06153 just above that level.

The holding at that level is good for sellers and keeps the sellers in firm control. A move above would water the bias modestly.

Looking at the hourly chart, the 200 day MA is also the underside of the broken trend line (see green line and trend line on the chart below). That increases the levels importance.

On the downside the low for the day stalled near the low from Friday at 1.0585. There is a swing area between 1.0576 and 1.0585. MOve below increases the sellers control.