EURUSD races back above 1.0600

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    Tests 100 hour MA/ above the 200 hour MA

    The EURUSD has moved back above the  1.0600 level and in the process took out the 200 hour MA at the 1.06029. The pair has stalled at the 200 hour MA (green line in the chart below).  Earlier in the London session, the price held support against the level.  

    The move comes around the 4 PM London fixing. So there may be an influence from the flows.  

    The pair continues the choppy action seen over the last 9 trading days. The last two days has seen a break of an upward trend line (see blue circles) but each failed. That line needs to be broken and stay broken if the pair is to go lower.  

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    This article appears in: Investing , Forex

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