EURUSD tests its 200 hour moving average | Forexlive

With the stock set to open it up shortly, and Fed’s Bullard speaking of a terminal rate up to 5.75%, the EURUSD has seen some selling in the early New York session. That selling has now taken the price back down toward the 200 hour moving average 1.09473, and also a swing area between 1.0925 and 1.09438. The low prices just reach 1.09457.

The EURUSD moved higher in the European session breaking back above the 200 hour moving average but falling short of its 100 hour moving average (blue line currently at 1.09918). The high price today stalled at 1.09822 in the London morning session.

A move below 1.09438 would likely tilt buyers back to sellers with 1.0925 as the next downside target. Move below that level, and traders will look toward the 50% midpoint of the move up from the March 24 low. That level comes at 1.08941.

Conversely hold sport here and the battle between the buyers and sellers (between the moving averages) continues.