The pair closed with 0.5% gains and managed to close above all the daily moving averages except 200dema.
Traders to eye CPI of Germany and Spanish besides, US consumer confidence. Economists are expecting the consumer confidence possible to fell in September to 96.00 from August high of 101.00. In August, the consumer sentiment was up after the sharp decline in July.
2015 Fed FOMC committee votes, San Francisco Fed President Williams: expect the Fed to raise interest rates gradually began late in 2015, the interest rate is “appropriate next steps.”
Williams: We have to raise interest rates, re-evaluate the policy, the economy can begin to deal with FOMC rate hike process.
Overview: Thrice the pair has been bouncing from the 20Wsma finds at 1.1130 and the other week low finds at 1.1080. The pair rejected twice at 1.1467 levels on a monthly basis. On the deep downside, the support base was placed between 1.0820 and 1.0800 levels. The weekly trading pattern still remains between 1.1010 and 1.1460 levels.
At yesterday’s session, the pair managed to hold the 100dsma&20wsma and close above 20dsma which is a good move by bulls.
Intraday: The 1.1100 mark has been supporting the pair for the past 3 days. Now the support raise to 1.1140 20wsma and 100dsma finds there.
Resistance seems at 1.1250, 1.1280 and 1.1310.
Support: 1.1210, 1.1180 and 1.1140
Until the pair close above 1.1140 the bears aim at 1.1300 and 1.1330 initially.
Safe buying available only above 1.1260.