Ahead of the PMI data the euro is trading higher against more counterparts. Earlier the cross managed to close above all daily moving averages. But lack follows up buying drags the cross towards the support levels.
On Wednesday’s session, the cross managed to close above the 20Dsma, at yesterday’s session the same 20Dsma helped the cross to close above and cover the Wednesday’s loss.
In the hourly chart, the cross made a double bottom at 1.0710 manage to print first higher high after 2 days. The immediate resistance zone seems at 1.0815 and 1.0850 200D&Ema remains there.
Earlier the cross breach the previous resistance zone seems at 1.0805, but a lack of follow- up buying drag below the supply zone. A weekly close above 1.0860 makes the bulls open the doors towards 1.1000, 1.1070 and 1.1100.
The monthly resistance remains at 1.1000 mark, as of now high made 1.0960.
Intraday: Resistance seems at 1.0780, 1.0800 and 1.0830. Support finds at 1.0740, 1.0700 and 1.0670. The hourly and four-hour oscillators indicators some head room.
Trade: Buying available above 1.0800 aims at 1.0815,1.0830 and 1.0850.
Selling available below 1.0740 targets at 1.0700, 1.0670 and 1.0620.