The Euro is maintaining positive tone and holding near new one-week high (1.0951) posted on Thursday and retested today in early European session.
The pair is moving within some 30-pips range in a quiet Good Friday trading.
Improved risk sentiment on the latest Fed’s stimulus keeps the single currency supported, with bullish signal being generated on Thursday’s close above pivotal Fibo barrier (38.2% of 1.1147/1.0768).
Bulls eye barriers at 1.0957/74 (50% retracement / 55DMA) which guard more significant 1.10 resistance (psychological / Fibo 61.8%) break of which would unlock 1.1031/60 zone (100/200DMA’s / Fibo 76.4%).
Daily cloud twists today and ascends that may attract bulls, however, sideways-moving momentum and RSI warn that bulls may take a breather before resuming.
Holding above broken Fibo 38.2% barrier, reinforced by converged 10/20DMA’s (1.0913/05) is needed to keep bulls in play.
Res: 1.0957; 1.0974; 1.1000; 1.1031
Sup: 1.0913; 1.0905; 1.0882; 1.0840