- EUR/USD main bear trend is transitioning to bullish as EUR/USD is trading above its 100-day simple moving average.
- EUR/USD is pulling back to the 1.1723 support (September 24 low) where it is finding support. EUR/USD is trading well above its 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators are decelerating. The bullish bias remains intact ahead of the FOMC.
- Bears need a convincing break below 1.1700 in order to slow down the bullish advance.
Spot rate: 1.1741
Relative change: -0.24%
High: 1.1776
Low: 1.1730
Main trend: Bullish
Resistance 1: 1.1750 key resistance (July)
Resistance 2: 1.1800 figure
Resistance 3: 1.1853 June 14 high
Resistance 4: 1.1900 figure
Support 1: 1.1723 September 24 low
Support 2: 1.1654 August 27 high
Support 3: 1.1630 August 8 high key level
Support 4: 1.1600 figure
Support 5: 1.1572 July 19 low
Support 6: 1.1542 supply/demand level
Support 7: 1.1530 August 23 swing low
Support 8: 1.1508 June 8 low
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