EUR/USD had a slight downward movement yesterday and
marked intrday low at 1.1127. But later on the single currency pushed higher to
closing price of 1.1195 after the release of the ISM manufacturing data, that
showed unsatisfactory results. As it is seen on the hourly chart, the price is
now testing the 200-day exponential moving average located around 1.1205. Currently the bias
is bullish for testing 1.1250. A clear break above that area could trigger
further bullish pressure for testing 1.1350. First support is located at 1.1165
and a possible break could lead the price to neutral zone but should keep the
bearish signals strong for testing 1.1100 before targeting the 1.1000 area. Still
the main technical outlook remains neutral.
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