The EUR/USD pair initially fell during the day on Thursday but found the 1.0750 level to be supportive enough to push the sellers away. If we can break above the 1.0840 level, I think that the market should continue to go much higher, perhaps reaching towards the 1.10 level above. I don’t have any interest in selling this market until we break down below the 100-exponential moving average, pictured in blue on this chart. This is a market that looks as if it is trying to turn things around, but we are facing a significant amount of resistance just above.
Written by FX Empire