EUR/USD (a 4-hour chart)
The Eurozone leading economies have already reported about the CPI growth by the end of May which may support the euro demand. On the other hand, we cannot ignore the debt market dynamics. The Greece and the Germany bond yields increase indicates the investors’ negative expectations about the "Greek question" decisions ‘perspectives.
This month Athens has to pay 1.6 billion euros to the IMF and the first payment is scheduled for the 5th of June.
The trading was around the level of 1.0925. Yesterday the euro sharply grew and broke through the resistance levels of 1.1050 and 1.1150
The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.
There is a non-confirmed and a weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The buyers need to break above 1.1260 for a steady growth. The way to the mark 1.1460 will be opened after this breakthrough.