The EURUSD moves back down after testing hourly MAs

The EURUSD moves back down after testing hourly MAs

Moves back toward the Good Friday close.

The EURUSD is trading lower and back away from the hourly MAs.

The 100 hour MA is at 1.23405 (and moving lower). 

The 200 hour MA is at 1.23497.

The price moved to a high of 1.23445 – between the levels – and backed off.

The pair is trading back toward the close from the Good Friday close at 1.2320.  We currently trade at 1.2322 after the Markit US manufacturing PMI came in at 55.6 vs 55.7 estimate. This was the final estimate for the index.

The lows for the day comes in at 1.2310 and 1.2312 respectively. A move below will target 1.2294-96.  Looking at the chart above, that area has been home to some swing levels.

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For a longer view of the EURUSD,
click HERE for the weekend post.  
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