EUR/USD Lifts On Easing Worries Over Greece

On the 1 hour chart quotes are testing the upper limit of the trading range, while on the 3 hour chart wide trading scope has formed. Break above the nearest resistance and today's top at 1.3125 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3045, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2932.

Today's focus is on Italy, France, Germany and EU17 PMI, EU17 Retail sales, US ADP employment, Productivity Q3, Unit labour cost Q3, ISM Non manufacturing PMI and business index, and Factory orders, at 8:45, 8:50, 8:55, 9, 10, 13:15, 13:30, 15 and 20 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 crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.3125 1.3240 1.3364
Technical support levels: 1.3045 1.2932 1.2810