Last ditch resistance for EURUSD

EURUSD has traded through the major lines of resistance in a thin, US holiday period, but some might argue that the last shreds of local resistance are still in place – as the pair looks to swing either way in the days ahead.

EURUSD is having a look above the basic flatline resistance provided by the 1.2880 area on the way down, but it looks like (after the break of the more structural 1.2800/25 area), that the last areas of resistance may be slightly higher, from just below 1.2900 on the old rising line of consolidation to the 55-day moving average just above 1.2900.