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 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.