Some buying shows up
Admittedly, it is a holiday in the US and trading activity is light (EURUSD 26 pip range), but technically there was some selling disappointment in the EURUSD today.
Looking at the hourly chart above, the price fell below a swing area at the 1.0843-86 in the London session and then a lower trend line. That opened the technical door to the downside including a test to the 100 day MA at 1.10633. However, the momentum faded (may be because of day) and sellers turned to buyers. In the process, the broken levels were rebroken to the upside.
The price just moved to a new NY session high (which is not saying much), and is moving further away from the support levels below. The next upside targets are at the 1.1100 to 1.11038 as long as the 1.10843-86 area can hold support. The buyers have to prove that the failures on the breaks below can now hold support. Failure to do so, and I will be looking for that retest of the 100 day MA in the new trading day.
