Trades around 1.1200.

The EURUSD is moving to new session highs and in the process is testing the 1.1200 level (the bid/ask has straddled the level on my system).

The pair has overhead resistance approaching at the 1.12056 level (38.2% retracement - #1) and then the 100 day MA at the at 1.12138 (#2). Yesterday and earlier today, the 200 day MA was being targeted at the 1.1119 area. The low yesterday got to 1.1122. Today the low reached 1.11268.

If the momentum higher can be maintained the 1.1231 area has a number of resistance points:

  1. 200 hour MA
  2. 100 bar MA on the 4-hour chart
  3. 50% of the move down from the August 26 high.

That level will be a tough nut to crack for the pair.