Technical Analysis EUR/USD for 8/17/15
The EUR/USD appears to be stuck despite an agreement by the Euro finance ministers to approve a 3rd Greek bailout. The currency held on to gains despite weaker than expected growth which was reported during the European trading session. EU GDP declined 0.3% quarter over quarter, with France generating the weakest overall number.
The currency pair moved lower throughout the trading session, with support seen near the 10-day moving average at 1.1015. Resistance is seen near the recent highs at 1.12. Momentum remains positive with the MACD (moving average convergence divergence) index printing in the black with an upward sloping trajectory.