EUR/USD is holding gains from the previous session after ending Wednesday 0.2% higher. Improved sentiment following the signing of the US – China trade deal (finally!) helped lift the common currency versus the safe haven greenback. However the euro is struggling to push higher after the trade deal left many questions unanswered and lacked any timetable surrounding phase two talks.
EUR/USD traders will now look ahead to a packed calendar of events which could drive movement the currency pair today.
Levels to watch
EUR/USD gained 0.2% in the previous session. The pair is trading above its 50, 100 and 200 sma on 4-hour chart indicating bullish momentum.
Immediate resistance can be seen at at $1.1164 yesterday’s high will need to be overcome, to advance to resistance at $1.12.
On the flip side, support can be seen around the 50 sma close to $1.1140, prior to Jan 10th low of $1.1085.
Original from: www.forex.com