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EURUSD fell below the 200 hourly moving average and respected the 100 hourly moving average as expected. It also went below firday's low but then it quickly came up after hitting 1.1715, which is an important support (check weekly chart). And retraced to the 50% of todays range. Then probably cause of the time of the day price just stayed around that level. I still think the main resistance here should be the 100 hourly MA, but considering price broke the 200hma, we might get a pullback to that level so thats a good place to start looking for rejection and potential shorts.
On the same hourly chart but zoomed out, we can see that in case price breaks todays low it will have another 100 pips to get to the next target, or next support around 1.16100.
On the same hourly chart but zoomed out, we can see that in case price breaks todays low it will have another 100 pips to get to the next target, or next support around 1.16100.
