EUR/USD (a 4-hour chart)
The ZEW Institute published the Germany business environment investors’ sentiment. Germans pleased traders with the positive macroeconomic releases in the first quarter. However this release was worse then forecasted medians.
The German 10-year bond yields are only 0.07%, and in this regard, investors will not rush to fill their portfolios with the low-income securities which will serve as a deterrent for the bulls.
Having formed a small consolidation, the price rebounded downwards. Rebound allowed sellers to test the level of 1.0670. This test was followed by the rebound upwards.
The price is finding the first support at 1.0670, the next one is 1.0550. The price is finding the first resistance at 1.0790, the next one is at 1.0925.
The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows an upward movement.
The MACD indicator is in a neutral territory. The price is growing.
The pair can decrease to the support level of 1.0670. After breaking 1.0670 the sellers may go to 1.0550.