The Euro is maintaining bullish tone in early European trading on Friday and probing above Thursday’s high / 10SMA at 1.1177, after downside attempts were repeatedly contained by widening hourly cloud.
Broader bulls are looking for extended upside action which requires break above 10/20 SMA’s at 1.1177/1.1201 respectively, to confirm higher base and open way for fresh attack at 1.1300 zone targets.
Corrective dips should hold above 1.1160 (hourly cloud top, reinforced by hourly Tenkan-sen / Kijun-sen bull cross) to keep near-term bullish bias in play.
Otherwise, renewed downside risk towards 1.1140/45 (Wed/Thu lows and key supports at 1.1121/09.
Mixed PMI data Eurozone, Germany and France offered mild support the pair.
Res: 1.1180, 1.1201, 1.1228, 1.1268
Sup: 1.1160, 1.1140, 1.1121, 1.1109
