What now?

The price is up retesting the 100 hour MA at 1.1040. A swing high from yesterday before the run lower, reached 1.10516. There has been some apprehension at the area and the price has backed off a bit. The pair trades at 1.1030 currently.

The old trend line cuts across near 1.10175 (and moving higher). Watch that level for potential support again (the price tried to stay below the trend line on the move back higher but eventually broke back above – see red circle 3). Move below and traders will be looking toward the 200 hour moving average again.