EUR/USD Open 1.3075 High 1.3132 Low 1.3067 Close 1.3077
On Tuesday Euro/Dollar traded within 65 pip range. The European currency appreciated from 1.3067 to 1.3132 yesterday, matching the positive money flow sentiment at around +16%, closing the day at 1.3077. This morning the Euro is trading quietly, with movements at the lower half of yesterday's range for now.
On the 1 hour chart quotes are back into the range trading, while on the 3 hour chart the downward channel has turned into wide trading scope. Break above the nearest resistance and yesterday's top at 1.3132 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3067, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2955.
Today's focus is on Germany Industrial production at 10 GMT.
Quotes are moving just above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term neutral pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
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