29 Apr 2015
EUR/USD eyeing 1.1120 - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals favour a EUR/USD climb towards 1.1120 levels.
Key Quotes
“US GDP figures missed expectations, with growth in the first quarter sharply lower: the economy grew just 0.2% according to the first reading of the Q1 for 2015, driving the EUR/USD to a fresh monthly high on the 1.1070 area. The pair retreated from the level, but held well above the 1.1000 figure, now looking for fresh highs.”
“Technically, the 1 hour chart shows that the technical indicators head strongly higher, with the RSI in extreme overbought territory, whilst the 20 SMA provides intraday support around 1.0990.”
“In the 4 hours chart, the bias is also higher, despite indicators are in overbought territory, supporting additional advances up to the 1.1120 price zone.”
“Support levels: 1.1045 1.1000 1.0950”
“Resistance levels: 1.1085 1.1120 1.1160”
Key Quotes
“US GDP figures missed expectations, with growth in the first quarter sharply lower: the economy grew just 0.2% according to the first reading of the Q1 for 2015, driving the EUR/USD to a fresh monthly high on the 1.1070 area. The pair retreated from the level, but held well above the 1.1000 figure, now looking for fresh highs.”
“Technically, the 1 hour chart shows that the technical indicators head strongly higher, with the RSI in extreme overbought territory, whilst the 20 SMA provides intraday support around 1.0990.”
“In the 4 hours chart, the bias is also higher, despite indicators are in overbought territory, supporting additional advances up to the 1.1120 price zone.”
“Support levels: 1.1045 1.1000 1.0950”
“Resistance levels: 1.1085 1.1120 1.1160”