EUR/USD Keeps Pressing Higher, 1.14 in Focus Again
The American dollar continues to decline across the board in Asia,
following the disappointing FOMC dovish outcome, which saw expectations
for a rate hike pushed further into the future, according to the CME Fed
funds rate, currently pricing a June move at only 11%.
View from Valeria Bednarik, Chief Analyst at FXStreet
"Having advanced for a fourth consecutive day, the EUR/USD pair has broken above the 1.1315 Fibonacci level early Asia, and retracements towards the level during the next sessions attracted buying interest."
"The 4 hours chart presents a neutral-to-bullish stance, as the technical indicators head nowhere within positive territory, but the price is above its moving averages, with the 20 SMA heading north around 1.1310."
"The pair has still to beat the strong resistance in the 1.1380/90 region to be able to advance further, eyeing then a retest of the 1.1460 price zone, a major long term resistance."