EURUSD is still trading above 1.1200 psycological level

We have been watching a bullish consolidation on the EURUSD above the 200 SMA at H1 chart, and it would be expected to rise until the 1.1282 level.

The price action now is calling to a short term bottom possibly found at the daily pivot point level of 1.1208. If EURUSD does a breakout on that zone, it’s expected to fall to the support level of 1.1135, which is below to the current location of the 200-period moving average.

MACD indicator is still at negative territory.

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