EURUSD buyer make another run at the 200 hour MA

The EURUSD is moving back hgiher and is retesting its 200 hour moving average.

Recall from earlier today, the price moved up to the 200-hour moving average and found willing sellers near the level. The price rotated back to the downside stalling ahead of its 100-hour moving average at 1.0268. The low price could only reach 1.0278 before rotating back to the upside.

The price is now back up to the 200 hour MA level. Moving above that level, would have traders looking toward the swing area between 1.0332 and 1.0343. Stay below once again, and may be a prelude to a move back to the 100-hour MA and traders will decide what it wants to do then.

Decision time again at the 200 hour MA level for both buyers and sellers.

This article was written by Greg Michalowski at www.forexlive.com.