Forex technical analysis: EURUSD running into overhead resistance

Discussion in 'Technical Analysis' started by ForexLive, Jun 1, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    100 day MA broken. Trend line holds. The EURUSD tested and held against the 100 day MA yesterday. The pair started to gather some upside steam in the European session. That took the price above the 200 hour MA at 1.1166 (yesterday the 200 hour MA and the 100 day MA were at the same level when tested), and back to the 100 day MA. That MA comes in at 1.11765 today. Traders have pushed the price above the level to topside trend line (at 1.11877). There is some reluctance to go further it seems.

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