EURUSD above 100 hour MA again
The NY session has seen the EURUSD trade first above the 100 hour MA, and then below. It is now back above the MA line at 1.11882. That has re-tilted the bias back to the upside.
Having said that, the range for the NY session has been from a high of 1.12027 to a low 1.11804 That is only 22 pips. Let's not get too excited.
However, when traders deal with narrom up and down trading over an extended period of time, the little nuances can be an influence. Being back above the 100 hour MA is a "little nuance".
Meanwhile, the GBPUSD has also traded above and below it's 100 hour MA in the NY session today (after rising earlier in the day). For it, the pair movedback up to test it's high for the day at 1.31737. A move above will look toward the 1.3200 level and then 1.3231.
On Friday and again today (twice) the GBPUSD price dipped below its 200 hour MA (green line), but momentum lower failed. Fundamentally, the service PMI data moved back to 50.0 from 49.0 last month (and better than the 49.1 estimate). That better news, helped to push the GBPUSD higher.
Is there any catalyst for the recent moves back higher? Apart from the tilts technically (or sellers getting tired and covering), there is not a lot going on.
