EURUSD trades to the highest level since mid-September

Technical Analysis

Author: Greg Michalowski | eurusd

Takes the price above the October high at 1.18802

The EURUSD has moved to a new session high and in the process has moved further away from the October 21 high price of 1.18802. The pair is trading at the highest level since September 15 when the price high reached 1.1900. The September 10 high reached 1.19165. The range between 1.1880 and 1.19165 is the next upside hurdle to get above for the buyers.   Sellers may look to lean with stops above.   

On a move above, the high price from September 1 stalled at 1.20105. Those are the next targets from the daily chart below.

Takes the price above the October high at 1.1880 2
Drilling to the hourly chart, close support would be eyed against the 1.18642 1.18695 area. That corresponds with a swing hi from October 21 and swing highs from October 22 and October 23 (see red numbered circles). In trading today, the price moved above that level came down and tested near it (the low take reached 1.18615) and based against it before moving to the new session highs.

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