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Forex technical analysis: EURUSD looking to break?

Discussion in 'Technical Analysis' started by ForexLive, Apr 26, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Tests channel and retracement level The EURUSD got a kick higher on the back of the weaker Durable Goods data. The move pushed the pair above the 100/200 hour MAs (blue and green lines at 1.1279 and 1.12926 respectively) and topside trend line and 50% retracement of the move down from last weeks high. That area comes around the 1.1305 level. That area is being tested now. Will resistance become support now and will be get a boost higher?

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