100 bar MA on 5 minute chart also tested
The EURUSD momentum on the weaker US Retail Sales has faded and the price has rotated all the way back down. Technically, a bearish catalyst was the inability for the pair to get and stay above the 100 and 200 hour MAs at the 1.1057 and 1.1067 levels. Yes, the high reached 1.1077 after the weaker than expected US retail sales, but there were zero hourly closes above the MA levels. This disappointed the buyers. They reversed to sellers and the price is all the way back down to the closing level from yesterday the 1.0999 level (and below).
Forex technical analysis: EURUSD falls back to and through the 100 day MA
