The EURUSD has surpassed its 100-day moving average, currently at 1.09258, reaching a high of 1.09338.
On August 22, the currency pair approached this moving average but encountered resistance from sellers. Similarly, on August 16, it briefly exceeded this average but soon declined.
The most recent hourly data shows an initial resistance at the moving average, but the price found support in the 1.0911 to 1.09179 swing area, before basing breaking through the significant average.
Looking ahead, the next target is the 61.8% retracement level at 1.09501.
This article was written by Greg Michalowski at www.forexlive.com. Source