12:35, 13 December

EURUSD Daily Analysis

The EURUSD pair traded lower in the previous session and finished at 1.1742, after notching a low at 1.1718. Although the daily MACD is attempting a negative centerline crossover, the RSI and stochastic indicators are pointing towards the north, suggesting at likely bullish momentum in the pair. In addition, a signal line crossover from below by the 2H MACD, accompanied by the 8H stochastic and RSI indicators trading with an upside bias, further affirms the above outlook. Crucial resistance is placed at the 2H upper Bollinger band (currently trading at 1.1797/1.1800), followed by the 8H 50SMA (currently placed at 1.1833/35) and the 1.1860 level. A surge above the latter might trigger strength in the pair. Meanwhile, key support is situated at the 4H lower Bollinger Band (currently trading at 1.1728/25), followed by the 1.1695 and 1.1650 levels. A breach below the latter might lead to further negativity in the pair.