Open trading account 
The euro is rising against the US dollar on Wednesday morning European session. The relief note was accomplished during the Asian session and gains are now being consolidated in early European session.
The exchange rate was able to rise towards the 1.1628 level and currently, at 0705 UTC stands at 1.1615.
The upper boundary of the hourly Bollinger bands is located at 1.1622, nearby the weekly PP (1.1624). Actually, that level may be regarded as resistance, where the early Asian rise was hindered at.
The 20-hour SMA is located at 1.1604 and beneath it, a cluster of rationale figures lies, composed by the 100-hour SMA (1.1585), the lower boundary of the hourly Bollinger bands (1.1583) and the 55-hour SMA (1.1577).
The hourly RSI ticks at 66.5, though noticing that it has hovered beyond the 70 level during the Asian session and now shows signs of relaxation.
The most likely scenario is a test of the lower range mentioned in the previous paragraph (1.1575/85). On the other hand, further impetus will lead the exchange rate towards the 1.1680 area, where the monthly R1 (1.1685) and the weekly R1 (1.1689) are both located at.
The exchange rate was able to rise towards the 1.1628 level and currently, at 0705 UTC stands at 1.1615.
The upper boundary of the hourly Bollinger bands is located at 1.1622, nearby the weekly PP (1.1624). Actually, that level may be regarded as resistance, where the early Asian rise was hindered at.
The 20-hour SMA is located at 1.1604 and beneath it, a cluster of rationale figures lies, composed by the 100-hour SMA (1.1585), the lower boundary of the hourly Bollinger bands (1.1583) and the 55-hour SMA (1.1577).
The hourly RSI ticks at 66.5, though noticing that it has hovered beyond the 70 level during the Asian session and now shows signs of relaxation.
The most likely scenario is a test of the lower range mentioned in the previous paragraph (1.1575/85). On the other hand, further impetus will lead the exchange rate towards the 1.1680 area, where the monthly R1 (1.1685) and the weekly R1 (1.1689) are both located at.
