EUR/USD Inches Higher And Remains In Corrective Range

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EUR/USD Inches Higher And Remains In Corrective Range

By Greg Michalowski on April 21, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The EUR/USD is inching higher as the consolidation/correction continues. The high for the day reached 1.2989 the low, reached in the Tokyo session reached 1.2897. The low reached yesterday on the move lower from the recent highs reached 1.2888.

The current price is above the 100 and 200 bar moving average on the 5 minute chart giving a bullish bias intraday. That level comes in at 1.2936 to 1.2943 currently. However, with the price still well below the 100 hour MA at the 1.3070 level, the short term bullish bias is just corrective in nature.

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