The EURUSD pushed above the 100-hour moving average at 1.1370, a level that had previously stalled rallies twice earlier in the day. After breaking higher, the pair extended gains through the 200-hour moving average at 1.1397 (green line), reaching a high of 1.1413. However, momentum faded, and the price has since rotated back below the 200-hour moving average, currently trading around 1.1392.

This retreat could be a warning sign for buyers. That said, as long as the price holds above the 100-hour moving average, the door remains open for upside momentum to continue. However, a move back below the 100-hour MA would weaken the bullish bias, and likely lead to disappointment on the failed break.

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