EUR/USD Steady Just Bellow 1.35 Resistance

EUR/USD Steady Just Bellow 1.35 Resistance

EUR/USD Open 1.3487 High 1.3497 Low 1.3413 Close 1.3489

On Tuesday Euro/Dollar traded within wider 80 pips range. The European currency appreciated from 1.3413 to 1.3497 yesterday, matching the positive money flow sentiment at above +19%, closing the day at 1.3489. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.

On the 1 hour chart the upward channel has renewed, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.3497 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3413, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3300.

Today's focus is on EU17 Economic sentiment index, Business climate indicator, US ADP employment, GDP Q4, PCE price index, and FOMC meeting announcement, at 10, 13:15, 13:30, and 19:15 GMT respectively.

Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.3497 1.3610 1.3724
Technical support levels: 1.3413 1.3300 1.3176