The EURUSD remained steady on its position as it trades in a comparably tight range regardless of the massive data from the European region such as unemployment and PMI.
While the agreement made in Greece together with IMF and EMU is expected to maintain the pair in a higher stand.
While central bankers were on the news and brought challenges towards Mario Draghi in pursuing a dovish sentiment. The pair extends its consolidation on the first day of Europe’s long weekend and created a bull flag pattern which serves as the pause to stimulate.
Traders are anticipated to postpone its action prior to the U.S Non-Farm Payrolls scheduled on Friday or the fulfillment of second-round election in France preceding the major to reach its renewed highs.
Resistance lies at 1.0955 close on its previous week’s high while the support came in at 1.0843 next to the 10-day moving average.
The momentum kept a favorable stance since the MACD were printed in black along with an upward sloping path reflected in the histogram. This event had influenced to the advancing positive trajectory pointing to a greater exchange rate.
An upward trend of the Relative Strength Index is seen at 67 posted on the upper side of the neutral range.