20 Mar 2015
EUR/USD technicals favour the upside – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that technicals remain in favour of upside moves for EUR/USD, with the pair correcting higher, eyeing 1.0800 levels.
Key Quotes
“The EUR/USD pair advances to fresh daily highs above the 1.0750 level during the current European session, holding firm near the high, and with a mild positive tone in the 1 hour chart, as the price advances above a slightly bullish 20 SMA, whilst the RSI indicator heads strongly higher around 62 and the Momentum indicator holds above the 100 level, albeit lacking strength at the time being.”
“Earlier in the day, data showed that the current account of the euro area that recorded a surplus of €29.4 billion in January, although German PPI decreased by 2.1% yearly basis. There are no scheduled releases in the US for today, albeit a couple of FED members will be speaking in different events, and may affect the greenback should they refer to upcoming Central Bank moves.”
“The 4 hours chart technical picture also favors the upside, as the price extends above a bullish 20 SMA whilst the indicators maintain a strong upward momentum above their midlines.”
“Support levels: 1.0745 1.710 1.0660”
“Resistance levels: 1.0790 1.0830 1.0880”
Key Quotes
“The EUR/USD pair advances to fresh daily highs above the 1.0750 level during the current European session, holding firm near the high, and with a mild positive tone in the 1 hour chart, as the price advances above a slightly bullish 20 SMA, whilst the RSI indicator heads strongly higher around 62 and the Momentum indicator holds above the 100 level, albeit lacking strength at the time being.”
“Earlier in the day, data showed that the current account of the euro area that recorded a surplus of €29.4 billion in January, although German PPI decreased by 2.1% yearly basis. There are no scheduled releases in the US for today, albeit a couple of FED members will be speaking in different events, and may affect the greenback should they refer to upcoming Central Bank moves.”
“The 4 hours chart technical picture also favors the upside, as the price extends above a bullish 20 SMA whilst the indicators maintain a strong upward momentum above their midlines.”
“Support levels: 1.0745 1.710 1.0660”
“Resistance levels: 1.0790 1.0830 1.0880”