The EUR/USD pair spike up to a fresh daily high of 1.0994 following the release, but is now easing from the level, as strong selling interest remains aligned around the critical 1.1000 figure. Trapped in a 50 pips range, the 4 hours chart presents a mild positive tone, as the technical indicators hold above their mid-lines, albeit lacking upward strength, whilst the price develops above its 20 SMA. A clear break above the 1.1000 figure should lead to a spike towards the 1.1040/50 price zone, in route to 1.1120 a strong static resistance level.
A downward acceleration below 1.0950 on the other hand, should signal a downturn in the pair, eyeing a test of the 1.0890/1.0920 price zone, should the decline extend.
View live chart of the EUR/USD
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