EURUSD moves back toward the 200 hour MA

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EURUSD moves back toward the 200 hour MA

<p>The EURUSD is extending to the upside and looks toward the 200 hour MA at 1.00091 level. </p><p>Helping is a dip in US yields. The 2 year is off yet another high at 3.924% at 3.89%. The 10 year is now lower on the day by 3.3 bps at 3.42%. The 100 hour MA is at 3.403%.  Move below is needed to increase the downside bias in the short term at least. THe high yield reached a high of 3.49%.</p><p>The pair in the NY session did hold support at the 0.99515 level after breaking briefly below it in the London morning session (helped by selling the GBPUSD on the back of weak retail sales). That move below was quickly reversed with a modest bounce higher.  </p><p>The 200 hour MA has seen moves above and below over the last three trading days, but a swing area between 1.0022 and 1.00328 has given traders an area to lean against. The 50% midpoint of the September range is also in that area.  </p><p>Today, however, the 200 hour MA was briefly broken in the Asian session and that provided the upside resistance (near 1.0009 now). </p><p>The high just reached 1.0001 - just above the parity level and backed off. </p><p>Overall, the EURUSD bias is still more negative below the 200 and 100 hour MAs (green and blue lines). However, the 0.99515 level is sticky on the downside too.  Get below it would give sellers more satisfaction. RIght now, the buyers and sellers are battling it out.  </p><p>If you want to HEAR my views, below is the exerpted video from the <a href="https://www.forexlive.com/technical-analysis/the-forexlive-morning-forex-technical-report-for-september-16-2022-20220916/" target="_blank">morning forex report</a> from earlier today:</p>

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

Source: EURUSD moves back toward the 200 hour MA

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