FxWirePro: BTC/EUR finds stiff resistance at 200-DMA (6704), further upside only on decisive break above

• BTC/EUR is struggling to extend break above 200-DMA, intraday bias is neutral.
   
• The pair is trading range-bound on the day at around 6689 levels at the time of writing.
   
• Price is retracing from multi-month lows of 4712, decisive breakout above 200-DMA could see further upside.
   
• Technical studies are turning bullish, RSI and Stochs are showing a rollover from oversold levels.
   
• MACD is on verge of bullish crossover, which if completed will add to the bullish bias.
   
• On the flipside, failure at 200-DMA will invalidate bullish bias. Scope for test of 5500 levels.

Support levels - 6273 (5-DMA), 5488 (78.6 % Fib retrace of 2502 to 16457 rally), 5000, 4712 (Feb 6 low)

Resistance levels - 6704 (200-DMA), 7150 (50% Fib retrace of 9589 to 4712 fall), 7500 (Feb 4 high), 7725 (61.8% Fib retrace of 9589 to 4712 fall)

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest