FxWirePro: EUR/USD upside momentum fades at 1.13 mark, focus on Eurozone industrial production for further impetus

EUR/USD chart - Trading View 

• EUR/USD is trading at 1.1296 on the day, up 0.09% at 0925 GMT.
   
• Upside in the pair was capped at 1.13 handle on Tuesday's trade.
   
• The major is trading in a narrow range as markets await Eurozone industrial production data.
   
• U.S. Durable Goods Orders and February’s Producer Prices will also be watched.
   
• Technical studies on the daily charts have turned slightly bullish. Stochs and RSI are now biased higher.
   
• MACD is on verge of a bullish crossover on signal line, which if completed will support upside.
   
• Price action has bounced off channel support and now eyes immediate resistance at 20-DMA at 1.1314.
   
• Breakout at 20-DMA could see upside till 50-DMA at 1.1366 ahead of channel top at 1.1375.
   
• Retrace below 5-DMA will see resumption of weakness. Dip to channel base then likely.

Support levels - 1.1250 (5-DMA), 1.1234 (Feb 15 low), 1.1216 (Nov 12/13 low)

Resistance levels - 1.1314 (20-DMA), 1.1366 (50-DMA), 1.1375 (channel top)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.