EURUSD moves up to test the earlier day’s high

EURUSD EURUSD EURUSD another volatile day with ups and downs. EURUSD is coming back to test the previous day’s highs as they make a few more highs (or lows and highs). Every day this week the price went up or down and got lower or higher. Today the price initially rose, then fell and rose again. The technical bearish managed to break below the 100-hour MA (blue line) today, but remained below the rising 200-hour moving average (green line on the chart above). The next rally was back to the early European session high of 1.0857. Until now, sellers have been able to keep the price slightly below that level. The price is currently trading at 1.0852 . In summary this week (and back to last Friday and part of Thursday), the price was within a range defined by the 1.0760 low and 1.087 high. There was a brief break above the upper end of the uptrend on Wednesday, but it quickly broke and resistance returned between the uptrend line at 1.0866 and 1.087 . This bullish range and weekly high must be crossed to take the price out of this bullish and bearish trading range. Absent this and a move down from the 100 and 200 hourly moving averages would force traders to look to the lower ends of the weekly range this week.