EUR/USD fell below the key hourly moving averages earlier but is now back up to re-test the levels again
The gains in the dollar and yen are easing a little as EUR/USD rises back up above 1.1190 after having fallen to a low of 1.1174 earlier. Of note, price broke below both the 100-hour MA (red line) and 200-hour MA (blue line) briefly as sellers tried to wrestle near-term control but buyers are proving to be resilient as price now rises back up to re-test said levels.
In the bigger picture, price action in the pair hasn’t really broken stride as it continues to bounce around between 1.1170 to 1.1220 this week. It’s all about US-China trade talks now and until we get fresh developments and an angle to work with, price will continue to be contained around these levels.