EURUSD extends to a new session high

Technical Analysis

Author: Greg Michalowski | eurusd

Price moves above a 1.09507 to 1.09799 area (and 38.2% retracement at 1.09621)

The EURUSD has extended to a new session high at 1.09891. In the process, the pair just moved above the 38.2% at 1.09621 (of the move down from the March 9 high) and a swing area from 1.09507 to 1.09799.  Stay above the 1.09507 will now be eyed as close risk/bias for the pair.

Earlier today, the price moved above the 200 hour moving average for the 1st time since March 12. That moving average currently comes in at 1.08744. Keep that level in mind should there be a rotation back to the downside.

Price moves above a 1.09507 to 1.09799 area (and 38.2% retracement at 1.09621)
On the topside, the pair has the daily moving averages to target. The 100 day moving averages at 1.10417. The 200 day moving average is 1.10806. In between sits the 50% retracement of the same move lower at 1.10633.



ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose