EUR/USD: bullish break, but stuck at hourly 100-MA

Hourly chart

EURUSD H1 (03-03-2016 1744).png

  • EUR/USD has witnessed a bullish break; which by itself presents an upside target of 1.0920-1.0930.
  • The pair remains bid but is having a tough time taking out the hourly 100-MA at 1.0885.
  • If it does take out, pair could rise to 1.0920

Key Resistance levels

  • 1.0920
  • 1.0933 (100-DMA)
  • 1.0940 (61.8% Mar low-Aug high)

Its quite clear the pair is going have a even more tough time taking out offers in the resistance zone of 1.0920-1.0940

Key Support levels

  • 1.0868 (channel support)
  • 1.0853
  • 1.0845
  • 1.0815-1.0817

 

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