DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 12 Apr 2016 00:02GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.1407
55 HR EMA
1.1399
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
53
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
1.1495 - 2015 Oct high (15th)
1.1454 - Last Thur's fresh 5-1/2 month high
1.1438 - Apr 01 high
Support
1.1372 - Y'day's low
1.1349 - Last Fri's low
1.1327 - Last Wed's low
. EUR/USD - 1.1411.. Euro continued to swing wildly y'day. Price ratcheted higher in Asia to 1.1428 at European open b4 falling to 1.1372. Renewed buying there sent euro rising to 1.1448 in NY but only to retreat to 1.1296.
. On the bigger picture, despite euro's resumption of MT uptrend fm 2015 Dec low at 1.0523 to a fresh 5-1/2 month peak of 1.1454 last Thur, the lack of follow-though buying after penetrating previous 1.1438 top n subsequent pullback to 1.1338 suggests price is not ready to move higher n consolidation is in store initially this week with downside bias for a minor correction twd 1.1310, as long as 1.1262 (61.8% r of 1.1144-1.1454) holds, euro would be en route to next chart obj. at 1.1495 (2015 Oct high), a break there would encourage for further headway twd 1.1715 (2015 Aug top) later this month. On the downside, only below 1.1262 aborts bullishness n risks stronger retracement twd 1.1144.
. Today, despite y'day's gain fm 1.1372 to 1.1448, failure to re-test last week's 1.1454 high suggests choppy price swings would continue, however, as long as 1.1338 (last Thur's reaction low) holds, one more rise is envisaged later but 'bearish divergences' on hourly indicators would cap euro below res at 1.1495. 
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