During the session, the pair broke above the 100-bar MA at 144.77, but the first attempt failed to gain momentum. However, the next hourly candle pushed through, extending to a new session high of 145.07. Later, some end-of-day consolidation saw price pull back to retest the 100-bar MA, which is currently acting as intraday support at 144.77.
? Support Levels:
144.60 - (broken 38.2% of the May trading range)
? Resistance Levels:
145.373 – 50% Fibonacci retracement of the May trading range (next key upside target)
The technical setup suggests buyers are attempting to maintain control, with the 100-bar MA serving as a critical pivot. A sustained move above 145.373 would add confidence to the upside momentum
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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