Sasha Singh
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EURUSD : Found Support at 1.3578, Bias Towards Uptrend

(EURUSD : 4 Hour Chart)

EURUSD is showing some strength today on the 4 hour chart after declining below the long rising support trend line. The current support and resistance for the pair is at 1.3578 and 1.3601 respectively. Break below the support will pull the pair down to 1.3562. However if the pair breaks the resistance at 1.3601 the pair might push to 1.3625. The 100 day and 200 day SMA are contracting towards each other signaling a bullish movement as 100 day SMA is trying to cross above 200 day SMA. If it crosses above 200 day SMA the pair will follow a bullish trend. The bias seems towards the uptrend.