Trade Balance in Italy and Yellen’s speech put both currencies of EURUSD under pressure.
The support rests at 1.07530 with resistance at 1.07890 which both lines are above the weekly pivot point at 1.07060. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 100 and 200. The RSI is moving horizontally in the overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals.
Long positions are recommended targeting 1.08 area followed by pullbacks around 1.0720.
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