| The 100 hour moving averages at 1.34645. The 200 day moving averages at 1.3459. Key support levels for USDCAD. |
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EURUSD inches above 200 hour MA in early US trading
2023-06-26
The EURUSD is now higher on the day.
The EURUSD had a lid on the upside in the Asian/early European session against its 200-hour MA, and then was pressured in the European session helped by weaker German IFO data. However, the fall has seen a rebound in the early US session and the rise has seen the price move above the 200-hour MA at 1.09145.
The price is not "running" higher, but the bias is tilting more to the upside above that level with the 100-hour MA at 1.0931 as the next upside target for buyers/bulls. The best case scenario for the buyers is to stay above 200-hour MA in the short term, but traders – who are bullish – may also look down to 1.08955.
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