EURUSD fails above the 200 hour MA
The EURUSD tried to get above the 200 hour MA on two separate tries in the NY morning session but each is failing after failing to get above the swing area near 1.00328 (high from Thursday - see red numbered circles). The most recent high could only reach 1.00178. The 200 hour MA is at 1.00162.
The price is working back toward the 100 hour MA at 0.99676. A move back below the 100 hour MA would increase the bias to the downside. Below the 100 hour MA is the 0.99515 level. That level was the low from July. Move below it would be another notch in the bearish traders belt.
