Euro holds firm tone ahead of Fed minutes
The Euro keeps positive tone on Wednesday, following Tuesday’s 0.6% bounce, which has so far retraced over 38.2% of the latest 1.0481/1.0222 bear-leg.
Daily studies show strong bullish momentum and multiple bull-crosses of MA’s in bullish setup, which underpins larger bulls, while near-term action is supported by firming 4-hr studies.
Fresh advance needs close above cracked Fibo 38.2% barrier at 1.0321 to further firm near-term structure for push towards key barrier at 1.0396 (200DMA).
Traders focus on a number of US economic indicators which will be released today due to Thanksgiving holiday and a key event – Fed minutes, expecting more signals.
Res: 1.0352; 1.0396; 1.0420; 1.0481
Sup: 1.0283; 1.0222; 1.0194; 1.0163