EURUSD battle continues... That is OK.

Spring tightens...

The EURUSD intraday battle continues...and that is ok.

• We know the 1.0940-46 area as resistance. The high came in at 1.09393
• We know of the trend line on the 5-minute chart and the 100 bar MA on the same chart. The price fell below it and scooted lower.
• We know of the 100 hour MA below (at 1.08913 currently). The price on the way lower stalled at that level.
• We know the 100 bar MA on the 5-minute chart was support. Well it became resistance on the correction off of the lows.

So the battle does indeed continue.

What may have happened in the ups and downs is it narrowed the area of fighting. The fighting is now being waged between the 100 bar MA on the 5 minute chart and the 100 hour MA (at 1.08912 currently). With risk defined sellers can lean against the top. Buyers can lean against the support below. If there is a break, traders will look for that momentum....and that is OK. In fact, that is a good thing.