Forex technical analysis: EURUSD moves back to MAs and 50% of day’s range

Sellers coveringThe EURUSD has moved back up to test the 200 hour MA and the 100 bar MA on the 4-hour chart at 1.1783 and the midpoint of the day’s trading range at 1.17867. The high corrective price just reached 1.1785.  The low price reached 1.1737. That was short of the low for the week at 1.1724 and the low from last week at 1.1729.  

For shorts the move is a disappointment.  We are still trying to hold the MA and retracement area, but we sit on the edge.

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