Break above intraday ceiling and trend line. Tests 100 bar MA on the 5- minute chart
The EURUSD is pushing higher over the last few minutes as sellers give up on the idea of breaking below the 1.1009-11 level and and intraday ceiling over the last few hours at 1.10243 was broken. Also broken on the 5 minutes chart was a downward sloping trend line. The next intraday target lies ahead at the 100 bar moving average on the 5-minute chart at 1.0345 and the 100 day moving average at 1.0428.
Getting back above each moving averages would give buyers more confidence. Earlier in the New York session that 100 day moving average was tested and found sellers leaning against it.
After a few hours of quiet trading, we are seeing a pickup in upside activity in the last few minutes.
