The EURUSD moved lower during the Asian-Pacific and early European sessions, with the decline taking the pair back toward a familiar swing area between 1.15816 and 1.15976. Yesterday, the pair also dipped briefly below this zone before rebounding, and today buyers once again defended the lower boundary, pushing the price higher in recent hours. The pair is now trading at a new high for the day.
Looking ahead, the next key resistance comes at the converged 100- and 200-hour moving averages near 1.16268—a technically significant level for both sides of the market. On Tuesday, the price broke below the 200-hour MA and later retested it before turning lower again. Today’s rally has brought the pair close to that same level, but it remains capped beneath it for now.
With both moving averages aligned at 1.16268, this area becomes a critical decision point.
Sellers can lean against the resistance with stops above the zone.
Buyers, meanwhile, will look for a decisive break and sustained move above to shift the short-term bias back to the upside.
