FX.co ★ Technical analysis of EUR/USD for September 20, 2016

EUR/USD found the support at 1.1150 where price rejected the lower trendline of the descending channel. Today the pair broke above the 50 Moving Average and 23.6% Fibonacci retracement level which could result in further correction up.

Consider buying EUR/USD near the breakout level of the Moving Average - 1.1180, targeting one of the Fibs. The suggested stop loss is 1.1160.

Support: 1.1150

Resistance: 1.1220, 1.1240, 1.1260