The EUR/USD pair surged up to 1.0947 this Thursday and trades a few pips below the level, holding to the gains achieved on Wednesday on the back of rumors that a Greek deal is on the makes. Despite there's no official confirmation on a debt-deal between Greece and its creditors, the EUR/USD maintains a short term positive tone, pressuring the mentioned high.
Technically, the 4 hours chart shows that the price is now above a mild bearish 20 SMA, whilst the technical indicators are heading north towards their mid-lines, still in negative territory. Should the rally extend above the 1.0950 level, chances are of a continued advance up to the psychological 1.1000 figure, where selling interest is expected to surge.
Short term buyers have been defending 1.0890 which means a break below the level is required to confirm a bearish movement intraday, towards 1.0850 first, and beyond towards the weekly low around 1.0820.
View live chart of the EUR/USD
Technically, the 4 hours chart shows that the price is now above a mild bearish 20 SMA, whilst the technical indicators are heading north towards their mid-lines, still in negative territory. Should the rally extend above the 1.0950 level, chances are of a continued advance up to the psychological 1.1000 figure, where selling interest is expected to surge.
Short term buyers have been defending 1.0890 which means a break below the level is required to confirm a bearish movement intraday, towards 1.0850 first, and beyond towards the weekly low around 1.0820.
View live chart of the EUR/USD
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