EURUSD moves to new session highs and tests topside resistance levels

  


The range is still just 30 pips on the day

As the trading day heads toward the close, the EURUSD is trading to a new session high but putting things into perspective, the range is just 33 pips. The average over the last 22 days is about 52 pips.

The range is still just 30 pips on the day

The move is testing a cluster of resistance defined by the:

  • 100 day MA at 1.11309. 
  • The topside trend line at 1.1134, and finally the
  • 100 hour MA at 1.11381.

The price just moved to a high of 1.1138.  

Does the cluster stall the rally?

With the price moving to the highest level, it will now take a move back below the 100 day MA at 1.11309.  

ForexLive



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