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EURUSD Retests November Highs

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EURUSD rises again

EURUSD rebounds to November highs between 1.04806 and 1.0496. The corrective high price just reached 1.0485.

Short-term key technical resistance level.

On the downside, the price drop reached 1.04277. The 100-hour moving averages at 1.04126. The 200-hour moving average 1.03914. These levels should be broken to increase the bearish bias below the 200-day moving average of 1.03659.

The US Dollar rose after the US jobs report, but the upward movement has slowed and we are seeing a downward rotation.

For EURUSD, it has returned to the resistance zone which will be a key test for sellers and potentially an opportunity to sell with a stop above 1.0496.

US stocks are expected to open, which could lead to additional volatility. Buckle up.

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