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10:00, 21 марта

EURUSD Daily Analysis

The EURUSD pair posted moderate losses in the previous session and closed at 1.2242, after nudging a low at 1.2240. Even .though the daily MACD has crossed its centerline negatively, the RSI and stochastic indicators are sharply heading towards the .north, reflecting a positive momentum in the pair. On the 8H chart as well, the RSI and stochastic indicators are moving upwards, further substantiating the above outlook. Key technical barrier is placed at the 2H 20SMA (currently trading at 1.2297/1.2300), followed by the 4H 200SMA (currently placed at 1.2332/35) and the 1.2365 level. A break and stability above the latter might .lead to strength in the pair. On the other hand, immediate support is situated at the 8H lower Bollinger band (currently trading at 1.2231/30), followed by the 1.2205 and 1.2172/70 levels. A move back below the latter might trigger further bearish pressure .on the stock.