EURUSD keeps moving sideways above 1.5000

By IBTimes Staff Reporter | November 11 2009 10:03 AM

FXstreet.com (Barcelona) - The unit fluctuates in a narrow range of 40 points, between 1.5009 and intra high at 1.5050. 20 SMA and 50 SMA on the 60 minutes chart are moving upward though MACD bearish cross is seen. CCI on the 60 minutes chart declines toward the oversold territory. Supports are seen at 1.5009and 1.4984 while key resistance would be the yearly high at 1.5063.

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The U.S. Dollar index hit a 15-month low at 74.93. Currently the USD is weak against all the majors expect the Pound and the Yen.

According to ecPulse.com analysis team, The euro versus the dollar pair was able of breaching this morning's mentioned resistance level at 1.5020, where it set the four hour candlestick above it; thus, supporting the bullish intraday direction expected for today. We hold onto our morning expectations, as it is essential that trading remains above 1.4910 for this bullish trend to prevail.

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