Looks toward topside trend line
The EURUSD has moved back above its 100 hour moving average at 1.21143. That is a bullish tilt once again.
The topside trend line on the hourly chart above comes in at 1.2136. A move above that level would open the door for tests of the highs for the week. The high from yesterday reached 1.2146. The high price from Monday reached 1.2164. Last week's high price from Friday's trade reach 1.2177 All are targets on further upside momentum.
Earlier, the price dipped below the 200 hour moving average at 1.20864, but could not fall below the 38.2% retracement at 1.20788. Recall from Mondays trade that the 38.2% retracement did hold support on the dip lower. The holding kept the buyers engaged and supported.
Buyers in control above the 100 hour moving average. Get above the topside trend line opens the door for further upside.
