EUR/USD Moves Higher And Closer To Target Resistance

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EUR/USD Moves Higher And Closer To Target Resistance

By Greg Michalowski on June 9, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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As per the morning commentary, the EURUSD has continued higher to test the 100 hour MA (see prior post by clicking here).

The 100 hour moving average resistance currently comes in at the 1.4050 level currently. The high has been 1.4043. Like the GBPUSD, the 100 hour, 50% retracement and 200 hour moving average provide a resistance area.

The 50% retracemnt level of the move down from the high at 1.4338, comes in at the 1.4072 level, while the 200 hour MA comes in at 1.4089.

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