EURUSD did find sellers at 100 day MA target

The EURUSD had the 100-day MA (at 1.08252) as a key target at the start of the trading day. After the pair moved above the swing area between 1.07950 and 1.08067, that MA became the next key target and when the price reached 1.0825, buyers turned to sellers and pushed the price off that level (lower).

Stalling at the level now increases the moving average’s importance going forward. Staying below is more bearish. Moving above would be more bullish.

On the downside, the support will start at the 1.08067 level. If broken, traders will look toward 1.0795.

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