EURUSD extends to new highs, breaks above 100/200-hour MAs ...Middle East

Earlier in the week, the pair found consistent support near the 1.1265–1.1270 area, with today’s low holding just above that zone at 1.12735. The rebound from that base helped fuel the latest upside extension.

On the downside, initial support now comes in at the broken 100- and 200-hour moving averages (1.1352–1.1363). Below that, traders will be eyeing the 1.1328–1.1307 swing area, which previously acted as a strong floor earlier this week and again on Monday.

Resistance:

1.1424 (high for the week)

1.1351–1.1363 (100/200-hour MAs)

1.1265–1.1270 (major base zone)

This article was written by Greg Michalowski at www.forexlive.com.

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