The EUR/USD pair advances, holding near its daily high in the 1.1270 region after the release of mixed European data.
But what's giving support to the pair is local share markets, strongly up at the opening and extending its gains, following last Friday's sharp recovery in Wall Street.
View the Live chart of the EUR/USD
The 4 hours chart shows that the bias is higher, as the price stands above its moving averages that anyway lack directional strength, whilst the technical indicators head higher in positive territory. The pair continues trading within a big triangle, with the roof of the figure currently around 1.1300, the immediate resistance. Beyond it, the level to watch it 1.1335, as it will take a clear break above it to confirm an upward continuation towards the 1.1400 price zone.
The immediate short term support comes at 1.1245, followed later by 1.1200, where buying interest would likely surge in the case of a retracement.
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