FXstreet.com (Barcelona) - The Euro is trying to break above the 1.3035/50 zone and leave the trading range, around 1.3000 where it has been moving in the last hours, and climb further to recoup yesterday's losses seem possible, as risk appetite seems to have returned to markets.
According to Valeria Bednarik, collaborator at FXstreet.com, the Euro is in an upside momentum: Moving in a tight range between 1.2890 and 1.3043, pair attempt to break to the downside and failed, quickly regaining the upper side of the range, breaking above the 20 SMA and erasing early losses. Momentum cut the 100 line, suggesting further gains in the pair after breaking also above the range with the publication of the S&P home price index in the U.S.
Resistance and support levels, according to Bednarik, stand as follows: RSI supports further continuation, with next static resistance around 1.3090 (previous hourly lows and 200 EMA zone), and above 1.3130. Supports, under 1.3040 will be at 1.3010, 1.2985 and 1.2955 zone.
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