10:10, 13 February

EURUSD Daily Analysis

The EURUSD pair posted marginal gains in the last session to end at 1.2292, after hitting a high at 1.2297. Even though the daily MACD is moving downwards, the RSI and stochastic indicators are trading with an upside bias, hinting at likely positive momentum in coming session. Moreover, a signal line crossover from below by the 8H MCAD, along with the 4H stochastic and RSI indicators heading north, further validates the above outlook. The key technical barrier is positioned at the 4H 50SMA (currently placed at 1.2351/55), followed by the 1.2393/95 and 1.2432/35 levels. A break above the latter might lead to further positivity in the pair. On the other hand, important support is seen at the 2H 20SMA (currently trading at 1.2275), followed by the 8H 100SMA (currently placed at 1.2235) and the 1.2206/05 level. A move back below the latter might trigger weakness in the pair.