A Look At The Daily And Weekly Chart Of EUR/USD Currency Pair

The EUR/USD pair has been ranging the last few sessions, pivoting on the 1.30 handle. Looking at the pair on a weekly chart we see the downside trendline support held and the pair popped through the 21 week moving average and is currently sitting right on that level (21 week mavg defended the pair from the beginning of the year.) A break north should lead to the 61.8% retracement and coincidentally the 200 week mavg right above that.

On daily chart we see the pair probed the 55 day and 100 day moving averages, which are at the same level as the 21 week mavg. This is no coincidence as technicals seem to be in play and a break of these levels should be moving us higher in the short-term.

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