The euro steadies as a survey showed that investor morale in the euro zone improved. A sharp rise is a sign of short-covering and a close above the supply zone around 0.8760 may have eased the pressure on the single currency. This might offer the bulls hopes that the uptrend is still intact in the medium-term. The RSI’s double top in the overbought area caused a pullback as intraday buyers took profit. 0.8650 is an important level to expect follow-up interests. A rally back above 0.8780 would confirm a bullish continuation.
