In trading today the move to the upside started in the early Asian session and continued into the London/European session. In that session, the price did extend above its 100 hour moving average (blue line) currently at 1.3142,. The current hourly bar moved up to test the 200 hour moving average 1.31665 (the high reached 1.3167), but has so far found willing sellers against that level.
The current price is trading between the 100 hour moving average below 1.3142 and the 200 hour moving average above at 1.31665 (the current price is at 1.3155).
Traders will be looking for a break in either direction – with momentum – to provide the next trading clue. Right now, there is reason for the shorts in the longs to be cautious as the moving averages to provide bias clues and the price is centered between them.