Forex technical analysis: EURUSD makes another run toward 1.1876 and stalls

High reached 1.1871

The EURUSD took out the high from earlier in the day at 1.18678.  That high got with 8-9 pips of the next key target at 1.1876 (swing low going all the way back to June 2010). 

The pairs correction bottomed near the 200 bar MA the 5-minute chart before racing higher again. This time the prior high was taken out but only to 1.1871, still just short of the 1.1876 level. 

The story remains the same.  Key level at 1.1876.  On the downside, keep en eye on the lower trend line at 1.1807 now.  The 100 and 200 bar MA on the 5-minute chart should also be eyed as closer support now.  They come in at  1.18375 and 1.1825 respectively (and rising).

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