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EUR/USD extends gains above 1.08 close to next important resistance level
The falling US dollar today, especially versus Europe has already seen the EUR/USD rise above the 1.08 handle and above its 100 day moving average, at 1.0805. It has now pushed close to an even more important technical level. That is the price point of the 200 day moving average, in place right now at 1.0827. The high seen so far this afternoon has been set at 1.0825. So as you can see it is knocking on the door of testing this important resistance point. It remains to be seen, if the EUR/USD will reject a move above 1.0827, or break through it. The EUR/USD is currently trading at 1.0824
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