EURUSD advances further and pressures key barriers

The Euro maintains bullish tone and extends advance to hit fresh recovery high at 1.1361 on Tuesday, underpinned by strong gains last week, as well as better than expected German / EU ZEW data in (German Mar economic sentiment -3.6 vs -11 f/c / EU economic sentiment Mar -2.5 vs -15.1 f/c).
Fresh advance of British pound adds to positive tone, as techs gain momentum and MA’s turn to bullish setup.
Fresh bulls pressure initial barrier at 1.1364 (converged 20/30SMA’s) and eye other pivotal barrier at 1.1373 (50% retracement of 1.1569/1.1176), close above which would open way for probe through thickening daily cloud (currently spanned between 1.1400 and 1.1413) and possible test of key Fibo resistance at 1.1419 (61.8% retracement of 1.1569/1.1176).
Overbought daily slow stochastic requires caution, with solid supports at 1.1330/26 (rising 5SMA / broken Fibo 38.2%) required to hold and keep bulls in play and guard pivotal support at 1.1317 (converged 20/30SMA’s).

Res: 1.1364; 1.1373; 1.1400; 1.1419
Sup: 1.1348; 1.1326; 1.1317; 1.1291