EURUSD Technical analysis 11.12.2015

EURUSD

The pair found support on 1.0920 level and is probably trying to reach yesterday's maximum - 1.1040. This can be explained by the unwillingless of the investors to open positions in favour of US Dollar before the Fed meeting. But if the US retail data which is to be published today is strong, the price can go down.

The price is on the upper Bollinger band, higher than SMA5, but lower than SMA14. RSI is higher than 50% level and is turning upwards. Stoch are leaving the oversold zone.

Trading recommendations: Sell the pair if the US data is strong and if level of 1.0920 is breached with approximate target of 1.0800.