Highs for the week, October high and 200 day MA loom above
The EURUSD is trading at a new intraday high now, after the high on the last hourly bar stalled at the London morning session high at 1.11682.
The high for the week at 1.1175 is the next upside target, followed by the October high (from October 21) at 1.11787.
Above those highs will have traders eyeing the 200 day MA at 1.1193.
Looking at the daily chart, the 1.11744 to 1.1186 area is home to swing levels going back to April.
So in other words, there is a lot of overhead resistance that the buyers need to get through (and stay above) to tilt the bias more to the upside.
