The EUR is holding firm as we start the session, with EURUSD sitting near 1.1255. Buyers are in near term control. They have work to do in order to broaden the momentum to the upside further.

Price is looking to undermine a break above the resistance trendline, currently at 1.1245. Above that, the 100-day MA rests at 1.1277 and that will be a key dimension to watch out for in the day ahead. A daily close above that will see the bearish bias broken and buyers will have more belief to work on a move higher.

There is minor resistance at 1.1265, however the levels featured above are the ones to watch.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.