Price moves above 200 week MA, June highs and 200 day MA and stops triggered
The levels are no secret. The June highs at 1.1343 and 1.1346, the 200 week MA at 1.1343, and the 200 day MA at 1.1351 all made for a key area for traders.
Well the level was broken and the pair has raced to a new month high at 1.1368.
Helping the move was the holding of the 1.1315 -16 area on the last correction after holding 1.1343 on the first test of the high cluster area. The low price reached 1.1379, the pair based and then it ran (see last post here
Risk is now the 1.1343-51 area. Stay above, keeps the bulls in control
The next target comes in at 1.13927.That is the 61.8% of the move down from the January high (range for the year).