EURUSD (1H) - short term bullish bias
The euro has found buying interests after it pulled back to the daily support area of 1.1090. Last Friday's close with a bullish candle was a sign that the retracement might have come to an end. The hourly chart is also painting an optimistic picture. A bullish RSI divergence showed that the sell-off was decelerating. The post-NFP break-out above 1.1110 and a bullish MA cross are robust confirmations that market sentiment has turned in euro's favour.
Key support: 1.1100
Key resistance: 1.1160
The euro has found buying interests after it pulled back to the daily support area of 1.1090. Last Friday's close with a bullish candle was a sign that the retracement might have come to an end. The hourly chart is also painting an optimistic picture. A bullish RSI divergence showed that the sell-off was decelerating. The post-NFP break-out above 1.1110 and a bullish MA cross are robust confirmations that market sentiment has turned in euro's favour.
Key support: 1.1100
Key resistance: 1.1160