EURUSD extends above its 200 hour moving average

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Buyers regaining more control

The EURUSD extended back above its 200-hour moving average at 1.158887. This increases the bullish bias for the pair.

Buyers regaining _more control

The higher move also extended over a swing area between 1.15816 and 1.1586 along with the 100-hour moving average at 1.1581. Buyers will now use that area as a risk definition level. Staying up is more bullish. Move down and there could be disappointment due to the failure above the 200-hour moving average.

The USD is making new lows against the GBP, JPY, AUD and NZD in the current timetables for each pair.

  • The GBP is moving above its 100-hour moving average at 1.35655
  • The USDJPY is looking at the 113.00 support. It recently reached a new session low of 113.07, and remains below the 38.2% rebound from the move up from the October low to the October high at 113.21.
  • The AUDUSD breaks above its 100-hour moving average at 0.7417
  • The NZDUSD (the NZD is the strongest of the largest) is approaching the high swing of Thursday’s trade at 0.71778. The price moved as low as 0.7068 on Friday.

Source

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