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The EURUSD is cracking above it 100-day moving average 1.0853. Recall from yesterday, the moving average held resistance at session highs before rotating back down toward its 100 day moving average currently at 1.08147. The low price today did fall below that 100-day moving average but only briefly (to a low of 1.08117. The price they also moved back above its 200 hour moving out at 1.08433. Staying above both the 100 and 200 hour moving average keeps the buyer more in control.
The next targets?.
Trendline resistance comes in at 1.0870 followed by a swing area between 1.08758 and 1.0887.
This article was written by Greg Michalowski at www.forexlive.com.
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