EURUSD fell below the 200-day moving average of 1.03875 and rose to 1.035 . This low fell in the swing zone, which extends from May to June and July. During the lows of May and June, this area stopped. On July 1st, the price also stalled in this area before collapsing on July 5th. Fast forward to August and that month’s corrective top stalled in this area (see the red numbered circles on the chart above). In November, the price was above and below the swing area and there is also a 200 day in play. Today, however, support remained in the swing zone and the price pushed back above the 200-day moving average on the positive side of buyers. In November, however, the price was above and below the 200-day moving average on four separate days. There was an aversion to the top. If buyers want more control, breaking above the MA and staying above it is necessary. The November high of 1.0 798 is the next target, followed by the 50% midpoint of the 2022 range at 1.05155 (see daily chart. Hourly charts of also halted ahead of the 100/200 hour MA near 1.0350 today.
