EURUSD moves closer to its 100 day moving average
The EURUSD has continued its run to the upside after Lagarde does not rule out rate hikes in 2022.
The price has now moved up to a high of 1.14114 and in the process has moved closer to its falling 100 day moving average at 1.1430. The last time the price of the EURUSD traded above its 100 day moving average was back on June 16, 2021, when the moving average was up at 1.2066. The price trended lower into the January low (lowest level since June 2020) at 1.11207.
On a dip watch for support near 1.1370 to 1.13857 (swing highs from November, December, and parts of January). Stay above that level and the price can base and make another run toward the 100 day moving average.
See earlier post HERE
