In the meantime, the 4 hours chart for the EUR/USD pair shows that indicators aim higher from extreme oversold readings, supporting current upward correction whilst 20 SMA maintains a strong bearish slope well above current price. The pair has an immediate static resistance around 1.1280/90, last Friday US session highs, and sellers will likely surge around it. If broken, the rally can extend up to 1.1330 price zone, although seems quite unlikely for today. To the downside, the immediate support stands at 1.1190, and if broken, 1.1150 and 1.1100 are next bearish targets.
View Live Chart for EUR/USD
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