After the downwards movement of last week, the Euro/Dollar began climbing. This upward trend began on Thursday. It is not surprising as the long term prospects remain bullish. On the 4 hour chart there is a formed rectangle between 1.3860 and 1.4170, indicating consolidation. The EURO is currently neautral. The immediate resistance level is 1.4170. If it breaks this level, it may cause further ascending momentum towards the next target 1.4285. The nearest support level is 1.3975, followed by 1.3860. The CCI indicator is in the neutral zone of the 4 hour chart.
Technical resistance levels: 1.4170 1.4285 1.4400
Technical support levels: 1.3975 1.3860 1.3740
