EUR/USD Technical Analysis: It is a Friday surprise as Euro bulls break above 1.1500 figure and erase Thursday’s losses

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  • 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.  

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: It is a Friday surprise as Euro bulls break above 1.1500 figure and erase Thursday's losses

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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