Moves briefly above the 100 day MA at 1.0934
The EURUSD traded above the 100 day MA at the 1.0934 level (high reached 1.0938). An old trend line on the daily chart also slashes across at the level. After the break, it seems traders came in and sold. The price is back down to 1.0925.
The 100 day MA was broken last Friday. If the pair is pausing for another push, the 1.0947 is the midpoint of the move up from the December lows and above that the January highs between 1.0969-84 will be the next targets. The underside of the upward sloping trendline in the chart above comes in around 1.0992.
Corrections down to 1.0895-1.0905 are the 38.2% and 50% of the days range.
Today the pair did move above the 100 hour MA and support held on the correction before the most recent surge higher (see prior post).
