And while local share markets trade slightly negative, the pair consolidates a few pips below mentioned high. Technically, price has broke above a descendant trend line coming from 1.3905, April 11th daily high now offering short term support around 1.3825; the 4 hours chart shows price accelerated above its 20 SMA and indicators heading higher in positive territory, supporting further upward moves for today, with immediate resistance at 1.3860 past week high. A break above this last should lead to an extension up to 1.3890 where the pair will fill the weekly opening gap left 2 weeks ago.
A break below 1.3825 should be highly discouraging for buyers, and some profit taking may force the pair down to 1.3780/90 area, probable floor for today.
View Live Chart for EUR/USD
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