EURUSD can not extend above the 200 hour MA | Forexlive

The EURUSD moved up to test the 200 hour MA on three separate bars. Each banged against the MA, only to find willing sellers. Admittedly the price declines have been somewhat limited, but what is clear is there are willing sellers against the 200 hour moving average. It would take a move above that moving average to increase the bullish bias.

On the downside there is a swing area between 1.0690 and 1.0704. The corrective low off of the 200 hour moving average has moved down to 1.07025. Move back within that swing area between 1.06908 and 1.0704, would now increase the bearish bias.