EURUSD technicals
The EURUSD broke below both the 100-hour moving average and the broken 61.8% retracement level following the stronger-than-expected PPI data. However, downside momentum stalled as support buyers stepped in near the rising 200-hour moving average at 1.1635.
From that low, the pair rebounded back to the initial break point — the 100-hour MA and 61.8% retracement at 1.16615 — where sellers have re-emerged. Price is now trading near the midpoint of the moving-average range at 1.1649, highlighting an ongoing battle between buyers and sellers around key technical levels.
On the downside, a break below the 200-hour MA would shift focus toward the 50% midpoint of the decline from the July high, at 1.16098.
On the upside, a move back above the 100-hour MA would have traders eyeing the 1.1698–1.1703 resistance zone for another test.
Stay updated for more in-depth analyses and strategies at investingLive.com
