Summer trading conditions resume.
EURUSD
The EURUSD has spent the last 4 hours below the 100 hour MA (blue line in the chart above). The price is currently testing that level. There was a push above the MA in the morning session as traders – reacting to a break out of the narrow trading range – jumped on the bullish wagon hoping for the extension higher. That worked temporarily. Now with the price back below the 100 hour MA, buyers need to see more upside momentum to believe that will be the way to go.