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EUR/USD: Support And Resistance

EUR/USD: Support And Resistance

Yesterday the pair strengthened despite poor data on the Producer Price Index in the eurozone that came out worse than forecast. The pair was supported by strong data on the Unemployment Rate from the eurozone that fell to 10.4% and the Producer Price Index that met expectations at 53.6 points.

Today attention needs to be paid to data on Retail Sales in the eurozone, the ISM Non-Manufacturing PMI and Markit Services PMI from the US.

Daily EUR/USD

On the daily chart, the pair is trading in the upper Bollinger band®. Moving averages with 50, 100 and 144 periods remain above the price and directed horizontally. MACD histogram is near the zero line and its volumes are very low. DI lines move in opposite directions, while ADX is growing.

  • Support levels: 1.0888, 1.0865, 1.0830, 1.0796, 1.0770.
  • Resistance levels: 1.0915, 1.0939, 1.0965, 1.1057.
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