EUR/USD: daily update
EUR/USD rose to $1.3344 on Wednesday and then hit $1.3227 today.
Euro has reached resistance line connecting February and June highs around $1.3325. In addition, there’s a divergence on H4 MACD and RSI – the recent highs of the prices aren’t confirmed by highs in indicators. The pair slipped below 76.4% Fibo retracement of the decline from July to June at $1.3260.
If euro fails to strengthen above yesterday’s high at $1.3345, it will probably slide to support at $1.3200 and $1.3160. If the single currency manages to overcome this obstacle, it might be able to rise to June highs at $1.3415.
The pair will be driven by the ECB’s press conference today.
Chart. Daily EUR/USD