EURUSD bounces to 100 hour MA and swing area resistance
EURUSD technicals EURUSD fell below its 100-hour moving average at 1.08733 earlier today, a level that also served as a key swing area ( see red circles ).
EURUSD fell below its 100-hour moving average at 1.08733 earlier today, a level that also served as a key swing area (see red circles). The breakdown triggered further selling pressure, driving the price lower toward the next target at 1.08174.
This level coincides with the broken 61.8% retracement of the September 2024 to January 2025 decline and aligns with former swing levels from early March (see green circles). Buyers stepped in at this support zone, leading to a rebound that pushed the price back toward the 100-hour moving average.
Upon reaching this resistance level, sellers reemerged, reinforcing the technical battle between support at 1.08174 and resistance at 1.08733.
Traders will now be closely monitoring a breakout from this range, as momentum beyond either extreme could signal the next directional move for EURUSD.
The battle is on with the support and resistance defined.
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