Broke above intraday resistance level and it has been a steady climb higher since...
The EURUSD was trading near the 200 hour MA as NY traders entered for the day (see prior post). I commented how the buyers were leaning against the level. A test would be at the 200 bar MA on the 5 minute chart and topside trend line.
That line was tested and then broken. Since the break, it there has not been much selling...just a steady move higher and higher and higher. Not fast. Just steady.
The pair in the process is getting close to the 200 day MA at the 1.1045 level. We haven't quite gotten there yet but the market might be sniffing that level out.
Meanwhile, the USDCAD is testing its 200 day MA at he 1.3282 level. The AUDUSD is moving close to the 50% at 0.7494 level.
