Technical Analysis EUR/USD for 8/13/15

EUR/USD ran into resistance ahead of the July 10 1.1216 peak, with gains stalling at 1.1214. The pairing has since eased back into 1.1170 levels as U.S. equities pare their losses.  Today’s softer than expected EU Industrial Production did little to stop the Euro from climbing. The Eurozone industrial production dropped 0.4% month over month which was more than expected.

The currency pair surged up to resistance levels with the next stop the 200-day moving average at 1.1380.  Support is seen near the 10-day moving average at 1.0977. Momentum remains positive as the MACD (moving average convergence divergence) index recently generated a buy signal.  The index is printing in the black with an upward sloping trajectory pointing to a higher exchange rate.