EUR/USD reversed lower after stalling just short of its 100-day moving average, falling back toward the 1.1500 support zone. A failed rebound at 1.15356 then triggered fresh selling, leaving sellers in near-term control unless buyers push back above 1.1524.
EUR/USD pushed higher in the early Asia-Pacific session before stalling at 1.15581, just short of its rising 100-day moving average at 1.15677. Buyers lost momentum there, and sellers took control of the pair.
The initial pullback found support near the broken 38.2% retracement of the decline from the April high, at 1.1524. But the rebound from that level ran into resistance at 1.15356, Thursday's session high. That failure triggered another wave of selling.
EUR/USD is now testing a swing area near the 1.1500 level, between 1.14989 and 1.15060. A sustained move below that zone would hand sellers greater control and open the door to the rising 100-hour moving average at 1.14715, which aligns with a former ceiling from mid-June.
On the topside, buyers need to reclaim the 38.2% retracement at 1.1524 to shift the short-term bias back in their favor. Doing so would target 1.15356, and a break above that level would put the focus back on the 100-day moving average at 1.15677. Staying below the retracement, however, keeps sellers holding the near-term technical edge.
Source: Investinglive
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