EURUSD trades near session highs ...Middle East

Adding weight to the topside test is the 200-bar moving average on the 4-hour chart, currently sitting near 1.1209, right in the heart of the resistance zone. The 100-hour moving average is also in play and in that area at 1.12101 (not shown on the chart above). A clean break above this cluster would strengthen the bullish case and open the door for further upside momentum. Conversely it could also be a level where sellers may look to lean with a stop on a break above. As such it is important for both buyers and sellers.

Key technical levels:

Support: 1.11452 (near-term swing), 1.1065 (low from yesterday, 1.10395 (38.2% retracement of move up from the January 2025 low), 1.1000 (natural support)

Bias: Buyers make a play but work to do. Modest bullish bias while above 1.11452; but stronger upside if 1.1213 breaks

This article was written by Greg Michalowski at www.forexlive.com.

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