Forex technical analysis: EURUSD battle of the 100 bar MAs is a good thing
The EURUSD has an interesting technical battle being waged between the 100 hour moving average below, and the 100 bar moving average on the 4-hour chart.
The 100 hour MA provided support at the lows today at the 1.0710 level (see earlier post). The MA is now at the 1.07156 level (and rising).
On the topside in in the NY session the 100 bar MA on the 4-hour chart comes in at the 1.0769 (see chart below). The high for the New York session comes in at 1.0767 so far. The 200 bar MA on the 4 hour chart is not that far away at 1.07756 and the 50% of the move down from the April high is at 1.07775.
