The euro added value against the US dollar during yesterday's session, gaining 20 pips to a closing price of 1.0876. The session was held in the extremes at 1.0887 and 1.0804. Inability to break the psychological barrier at 1.0800 contributes to positive attitudes. The price went above the average values as the relative strength index added positions in positive territory. 1.0995 remains the key objective upwards.
FXWES posted: The pair practically remained unchanged during yesterday's session at 1.0856. Market participants did not set a clear direction after trading within the extreme values 1.0899 and 1.0819. Technically outlook in the short term remains neutral, as EUR/USD continues to move within the 1.0995 and 1.0805.
The next support is on 1.0690, next resistance: 1.1105
On yesterday session the EURUSD initially fell but found enough support at the 50-day moving average to turn around and closed near the high of the day, however closed within previous day range, suggesting a week bullish momentum.
The pair closed above the 10 and the 50-day moving average that continues acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1048 (resistance), previous swing high at 1.0970 (resistance), 10-day moving average at 1.0864 (support), the 50-day moving average at 1.0821 (support) and the last swing low at 1.0711 (Support).
The pair recorded a moderate decline on Thursday, erasing most of its gains from the previous day. Thus the price remained at familiar territory for the third consecutive session, after failing to keep the daily progress. Session peak was reached at 1.0942, while the lowest point was recorded at 1.0835. Technically the outlook for the EUR/ USD remains neutral in the short term.
On yesterday session the EURUSD initially rose but found enough selling pressure near the last swing high to turn around and closed near the low of the day, however closed within previous day range, suggesting a week bearish momentum.
The pair still managed to close above the 10 and the 50-day moving average that continues acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1048 (resistance), previous swing high at 1.0970 (resistance), 10-day moving average at 1.0868 (support), the 50-day moving average at 1.0825 (support) and the last swing low at 1.0711 (Support).
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