EURUSD tests 50% and topside swing target | Forexlive

The EURUSD is continuing its move to the upside and has extended to the 50%/swing area between 0.9805 to 0.9816. The price is trading right at that area at 0.9815 as I type.

A move above would open the door for further upside momentum. Key technical level/area.

What would hurt the bullish bias here today in the short-term. The high prices on Thursday and Friday intraday reached 0.9798, 0.98056 and 0.9808. Move back below those levels given the importance of the topside resistance, could disappoint the buyers looking for the break to the upper half of the October trading range, and lead to a rotation back toward the 38.2% at 0.9771

Buyers are making a play, but they are running into the key resistance target