The EURUSD is extended to the upside despite the better-than-expected durable goods orders released earlier today. The move to the upside today has been helped by a run above the 100 and 200-hour moving averages. The pair has moved into a swing area between 1.09618 and 1.09728. Getting above those levels is increases the bullish bias technically.
The bias is more positive above the moving averages. The 100-hour moving average is at 1.09325. The 200-hour moving average is at 1.0926. For traders looking for more upside in this pair, stay above those moving averages is key.
This article was written by Greg Michalowski at www.forexlive.com. Source