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Technical Analysis -EURUSD September 20

Posted on September 20, 2013 by the XM Investment Research Desk at 8:01 am GMT

EURUSD has a strong upward bias, currently consolidating its post-Fed gains near a seven-month high of 1.3567 hit on Sept 19.

On the Hourly chart, RSI above 50 and stochastic is rising. Prices are trading above the

Ichimoku cloud. The pair is currently around $1.3530.

Strong support is at the MA20 at 1.3525.

Retracement and bounce off key support level at 1.3480 will reaffirm upside.

Resistance is at 1.3567 (Sept 19 high). If broken will lead to the key 1.3600 level.

EURUSD Hourly Chart

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and Trading Point of Financial Instruments Ltd has verified that the producer of the

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relation to the production of the research.

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