The euro has risen in 7 of the past 8 trading days. 100dma breaks

Technical Analysis

Author: Adam Button | eurusd

The only decline was on holiday-thinned Monday

The only decline was on holiday-thinned Monday
The euro is up 2.5% since the low at the start of the month in large part due to rallies in 7 of the past 8 trading days.

The gain today cut through the 100-day moving average at 1.1139.

The next level to watch is 1.1164, which was the August 26 high. If that breaks then the 200-day moving average at 1.1212 comes into play. For me that's the critical area because the August highs are also there and so is the 61.8% retracement of the decline since June.

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