EURUSD trades to a new high, and enters topside resistance area between 1.0864 – 1.08725

After testing the 10810 level and finding buyers near that level early in the US session, the price has snapped back to the upside and has entered into a topside resistance area between 1.0864 and 1.08725.

That area is defined by the 100-bar moving average on a four hour chart, the 200 day moving average, and a swing area. This area should provide topside resistance on the first look.

See this video for more details.

This article was written by Greg Michalowski at www.forexlive.com.