fxstreet.com :
EUR/USD is gaining ground on broad-based dollar selling. The pair is closing on a crucial trendline hurdle at 1.1140. With gold rising amid trade optimism, a breakout looks likely.
The EUR/USD pair has reached the 1.1100 level, looking bullish in the short-term, mainly after recovering above the 50% retracement of its December rally, a level that capped the upside earlier this week. In the 4 hours chart, the pair is developing above its 20 and 200 SMA, while currently battling with the 100 DMA. Technical indicators stand within positive levels, although with quite limited bullish strength. The main resistance is 1.1120, the 61.8% retracement of the mentioned rally.
Support levels: 1.1090 1.1065 1.1020
Resistance levels: 1.1120 1.1150 1.1180
EUR/USD is gaining ground on broad-based dollar selling. The pair is closing on a crucial trendline hurdle at 1.1140. With gold rising amid trade optimism, a breakout looks likely.
The EUR/USD pair has reached the 1.1100 level, looking bullish in the short-term, mainly after recovering above the 50% retracement of its December rally, a level that capped the upside earlier this week. In the 4 hours chart, the pair is developing above its 20 and 200 SMA, while currently battling with the 100 DMA. Technical indicators stand within positive levels, although with quite limited bullish strength. The main resistance is 1.1120, the 61.8% retracement of the mentioned rally.
Support levels: 1.1090 1.1065 1.1020
Resistance levels: 1.1120 1.1150 1.1180