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EUR/USD continues to trade in the positive territory above 1.1300 to start the American session on Tuesday. The data from the US showed that the annual Core PPI jumped to 7.5% in November. Although this reading surpassed the market expectation of 7.2%, the greenback remains on the back foot.
The EUR/USD pair shows no signs of life. It remains stuck around the 1.1300 figure and the 23.6% retracement of its November's decline. At the same time, it is developing inside a near-term wedge, reflecting the ongoing consolidation. The daily chart shows that the pair has been seesawing around a mild bearish 20 SMA since last Friday, while the longer ones maintain their bearish slopes far above the current level. The Momentum indicator advances above its midline, but the RSI indicator remains directionless at around 45.
In the 4-hour chart, the pair offers a mildly bullish stance, as it has managed to extend its advance above its 20 and 100 SMAs. At the same time, technical indicator advance within positive levels, although with limited momentum. The pair may extend its gains up to 1.1345, the immediate resistance level, although further gains seem unlikely. A more relevant resistance level is 1.1380, the 38.2% retracement of the mentioned decline.
Support levels: 1.1260 1.1220 1.1185
Resistance levels: 1.1345 1.1380 1.1425
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
