Technical Analysis – EURUSD bullish above 1.3750
Posted on April 9, 2014 at 8:49 am GMTEURUSD is bullish on the hourly chart. The pair rallied strongly from 1.3736 to reach a high of 1.3810 on April 8th. There was a retracement to 1.3779 before bouncing back up and heading towards 1.3810. Next bullish target is at 1.3819 (April 2 high). Below 1.3778, next support lies at 1.3761 and 1.3736. The 20-and 50-hour moving averages are positively aligned. RSI is just below 70, leaving overbought territory. EURUSD remains bullish above 1.3750. [..]