Cracks above the August 6 high at 1.19153
The EURUSD is cracked above the August high at 1.1953 and trades at the highest level since May 2019. Stops have triggered and the price is currently trading at 1.1933. Looking at the daily chart below, there is upside resistance and the 1.1960 to 1.19957 area.
Drilling to the hourly chart below, the close risk is now back at the old high at 1.19153 and below that the 1.1904-078 area where highs from July 31 and August 5th are found. Stay above the 1.19153 keeps the buyers in control.
On the topside, the pair is testing the high topside channel trend line at 1.19375 (the high just shot up to 1.1940). If there is more momentum above that line, the 1.1960 target on the daily would be the next target for the pair.
