EURUSD breaks to new day highs

Technical Analysis

Author: Greg Michalowski | eurusd

Dollar moving lower

The dollar is falling across the board. The EURUSD has reached new session highs. The USDCAD is also trading to a new session high.  

EURUSD on the hourly chart
In other pairs, the greenback is off the lows still but moving lower nevertheless.  

For the EURUSD, it has now broken above the 100 hour MA at 1.18526 currently.  That MA stalled rallies in the Asian session. Staying below would have kept sellers in the game for control.  

WIth the move back above, the buyers are more in control now. The highs from yesterday and Tuesday at 1.1890 and 1.1893 are now targets.

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