First test since March 1
The EURUSD is higher on the day and trading near the highs. The pair had limited downside momentum earlier in the day, moved above the swing highs from last week at 1.1338 and 1.13436 and has pushed to a high of 1.13584.
At the highs, the pair is testing the 100 day MA at 1.3638. At the end of last month and the beginning of this month, the pair moved above the 100 day MA (blue line - it had trouble closing above the MA line though). The MA is lower since then (see blue line in the chart below) making the break easier - relatively. What might make it harder, however, is a trend line on the daily crosses at the same level (connecting the end of Jan and end of Feb highs). Sellers could lean against both the trend line and MA with stops if the buyers are able to push higher.
The EURUSD is higher and trades near the session highs. The 100 day MA looms at 1.13638 above, along with underline trend line resistance from the hourly and the 50% retracement (from the daily chart) around the 1.1372-74 area. So there is some sellers leaning ahead of those levels.
Going forward, if the bulls are to take the pair higher, breaking those levels will be eyed today/this week. Staying below will have traders looking back down toward lower levels including the aforementioned highs from last week (at 1.13436 and 1.1338) and then a lower trend line on the hourly and 100 hour MA (see hourly chart above). That 100 hour MA comes in at 1.13103 (and moving higher). The price moved above the 100 hour MA on Tuesdaay, based near it, and pushed higher into the Friday high.
