28 Apr 2016
EUR/USD upside favoured - FXStreet
Valeria Bednarik, chief analyst at FXStreet noted the conditions surrounding the EUR/USD and subsequent of the Fed today.
Key Quotes:
"The EUR/USD pair traded between 1.1271 and 1.1360 right after the event, settling finally above 1.1315, the 23.6% retracement of the March/April bullish run, and presents a mild positive tone in the 4 hours chart, as the low converges with the 20 SMA, whilst the technical indicators head modestly higher within bullish territory.
Overall, the upside remains favor, yet the pair needs to advance beyond the immediate resistance formed by the 1.1380/90 region to be able to continue rallying towards the 1.1460 region. Bulls will maintain the lead as long as the price holds above 1.1270."
Key Quotes:
"The EUR/USD pair traded between 1.1271 and 1.1360 right after the event, settling finally above 1.1315, the 23.6% retracement of the March/April bullish run, and presents a mild positive tone in the 4 hours chart, as the low converges with the 20 SMA, whilst the technical indicators head modestly higher within bullish territory.
Overall, the upside remains favor, yet the pair needs to advance beyond the immediate resistance formed by the 1.1380/90 region to be able to continue rallying towards the 1.1460 region. Bulls will maintain the lead as long as the price holds above 1.1270."