EURUSD key moving average holds
The euro has held key support against the US dollar during the European trading session, with the pair once again bouncing from the 1.1347 level. US GDP and Housing data are next market movers for the EURUSD pair, with a clear break of the 1.1347 to 1.1400 range now needed. Technical indicators on the four-hour time frame have now corrected from extreme overbought levels.
If the EURUSD pair trades above the 1.1400 level, key technical resistance is found at the 1.1440 and 1.1500 levels.
If the EURUSD pair trades below the 1.1347 level, key support is found at the 1.1321 and 1.1290 levels.