Break above 1.3680 required to confirm upward EUR/USD movement - FXStreet

FXStreet (Lodz) - Valeria Bednarik, FXStreet Chief Analyst notes that after the release of mildly positive US employment numbers last Friday the EUR/USD climbed to 1.3676, stalling right at the 61.8% retracement of this year's rally. Key quotes “Disregarding the wild ride offered by ECB on Thursday, the pair has been quite range bound, and as a new day starts, the hourly chart shows the same unbiased tone coming from technical readings: indicators are flat around their midlines, and price above 100 and 200 SMAs, both converging around 1.3615.” “In the 4 hours chart price found intraday support last couple sessions on a slightly bullish 20 SMA also around mentioned 1.3615, becoming therefore immediate intraday support.” “A break above 1.3680 is still required to confirm an upward movement, looking then for more congestion in the 1.3745 price zone.”