EURUSD technicals: The worth of the pair is now between the 100 and 200 hour MAs

The EURUSD broke beneath each the 100-hour shifting common and the damaged 61.eight% retracement degree following the stronger-than-expected PPI information. Nonetheless, draw back momentum stalled as assist patrons stepped in close to the rising 200-hour shifting common at 1.1635.

From that low, the pair rebounded again to the preliminary break level — the 100-hour MA and 61.eight% retracement at 1.16615 — the place sellers have re-emerged. Value is now buying and selling close to the midpoint of the moving-average vary at 1.1649, highlighting an ongoing battle between patrons and sellers round key technical ranges.

On the draw back, a break beneath the 200-hour MA would shift focus towards the 50% midpoint of the decline from the July excessive, at 1.16098.

On the upside, a transfer again above the 100-hour MA would have merchants eyeing the 1.1698–1.1703 resistance zone for one more check.

This text was written by Emma Wang at investinglive.com.