EURUSD bounces off of the 100 hour moving average
The EURUSD moved above its 200 hour moving average earlier in the European session. Recall from yesterday, the price tried to crack above that moving average line but could not sustain momentum.
The European run-up took the price up near 1.0051 before rotating back to the downside. Focus returned to a higher dollar after better US data from consumer confidence and the jolts job openings, but the fall was tempered by the earlier lows for the day as well as its rising 100 hour moving average at 0.99799.
The price has since bounce back higher and currently trades at 1.0019. The 1.00328 level is a interim upside target level to get above. After that comes the high for the day, and ultimately the 38.2% retracement of the move down from the August high. That level comes in at 1.00782. On Friday, the price briefly moved above that level after the better-than-expected core PCE data, but quickly reversed back to the downside helped by the Powell comments.