EUR/USD Technical Analysis: It is a Friday surprise as Euro bulls break above 1.1500 figure and erase Thursday's losses
|- EUR/USD is trading below its 200-period simple moving average.
- EUR/USD is rebounding after finding support at last week lows. The market is currently breaking out above 1.1500 figure. The bulls will try to keep the market above 1.1463 (October 4 low). The RSI indicator is at 49 while the Stochastic indicator is about to cross the 50 line. The MACD is having a crossover all suggesting that higher prices are potentially ahead of us.
- Key targets to the upside are likely located near 1.1530 (August 23 swing low) and 1.1600 figure. A break below 1.1463 (October 4 low) would invalidate the current bullish bias.
Spot rate: 1.1515
Relative change: 0.55%
High: 1.1517
Low: 1.1433
Main trend: Bearish
Short-term: Bullish above 1.1463
Resistance 1: 1.1530 August 23 swing low (key level)
Resistance 2: 1.1569 Sept. 28 low
Resistance 3: 1.1600 figure
Resistance 4: 1.1630 August 8 high key level
Resistance 5: 1.1654 August 27 high
Support 1: 1.1500 figure and October 2 swing low
Support 2: 1.1463 October 4 low
Support 3: 1.1430 October 9 low
Support 4: 1.1400 figure
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