- BTC/EUR intraday bias shifts to bullish after break above 21-EMA.
- The pair is currently hovering around 55-EMA and decisive break above will see further upside.
- Price action has broken above major EMAs on the hourly charts and we see scope for further upside.
- Momentum studies are bullish and RSI has edged above 54 levels. DMIs also support upside in the pair.
- Immediate resistance is seen at 4H 200 SMA at 5980. Break above will test daily cloud base at 6526.
- On the flipside 5-DMA is immediate support at 5825. Break below to see minor weakness. Violation at 21-EMA to see major downside.
Support levels - 5825 (5-DMA), 5770 (21-EMA)
Resistance levels - 5980 (4H 200 SMA), 6526 (Cloud base)
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 125.81 (Bullish) at 1025 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
