Pair kicked above its 100 day MA again
The EURUSD has been kicked above its 100 day MA at 1.16707 after the lower than expected NY empire manufacturing index, and trades at the highest level of the day. Looking at the hourly chart, earlier in the European early hours, the price dipped to the 200 hour MA (green line in the chart below). Buyers – anticipating a bounce – leaned there and the price has been stepping up since that hold.
The 1.1689 was a swing high from August 32. The price sorta stalled near that level on Friday before moving to the highs at 1.17212. Stay above the 100 day MA and the 1.1689 area will be targeted.