The EURUSD bias remains tilted to the upside after yesterday’s pullback stalled in the swing area between 1.1498 and 1.1506.
Buyers defended that support zone, the price held above the rising 100-hour moving average, and the pair went on to close higher
Today’s advance has extended that momentum, with the EURUSD up 0.22% and trading near the session high at 1.1557, just shy of Monday’s high at 1.1558. A break above that high would give buyers another small victory, but the technical road becomes much more challenging from there. The 100-day moving average at 1.15686 is the next major hurdle, followed closely by the 50% retracement at 1.1586.
That retracement also aligns with the upper end of a swing area dating back to May (see the red circles on the chart below), adding to its technical significance. Retracements rarely move in a straight line, and this one is no exception. Progress often comes in baby steps, with each resistance level requiring buyers to prove themselves before the next target comes into view.