EURUSD Just closed above the 200 SMA on 1 hour chart following a breakout this morning.
However to continue upside momentum the price would have to close above the 50% Fibonacci level at 1.08934 directly above the 200 SMA so could encounter further resistance here.
If the uptrend is broken price could move back and test the lows of 1.0800.
However to continue upside momentum the price would have to close above the 50% Fibonacci level at 1.08934 directly above the 200 SMA so could encounter further resistance here.
If the uptrend is broken price could move back and test the lows of 1.0800.