EURUSD moves back below its 100 hour moving average As European traders head for the exits, the EURUSD is moving back below its 100 hour moving average at 1.05263. Adam pointed out that natural gas prices have spiked above $8.00 as additional Russians sanctions include energy threaten the global supply. That certainly is more impactful in Europe. Nevertheless, earlier today the EURUSD price moved above its 100 hour moving average for the first time since April 22. Sellers turned the buyers on the technical break, and in the early North American session, the high price from yesterday was also surpassed at 1.05675 However, the high from last Friday at 1.05922 could not be reached (the high price reached 1.05769 today), and the last four trading hours have seen lower highs and lower lows. The low price of that move just reached 1.05109. There is a swing area between 1.04904 and 1.05088. Move below that level and the cycle low from last Thursday’s trade at 1.04703 would be the next target. Now take the price to the lowest level since early 2017. The low price and 2016 reached 1.0339. That is the lowest price going back to 2002.
Source:Forexlive