EUR/USD Moves Back Above 100 Day Moving Average

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EUR/USD Moves Back Above 100 Day Moving Average

By Greg Michalowski on April 15, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The market has corrected off the lows at the 1.3146 level and moved back above the 100 day MA at the 1.3170 level. The price has reached a corrective high of 1.3197. There is intraday resistance at 1.3203 level (38.2% retracement and earlier low today). Above that is the midpoint of the days range at the 1.3321 level. A move above this level will indicate a stronger market.

Overall, the market seems a little off balance today. Trading is not smooth in the NY session at least.

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