EUR/USD Update – 18/04/2017 (12:07pm) – by Arjun Lakhanpal

EUR/USD Update – 18/04/2017 (12:07pm): The EUR/USD pair continued with its range-bound price-action within 100-pips broader trading range and was confined in a narrow band above 100-day SMA on Tuesday. Technically, the pair maintains its neutral bias and hence any further up-move is likely to face strong supply near 1.0675-80 region and the 1.0700 handle, nearing 38.2% Fibonacci retracement level of 1.0341-1.0905 recovery move. However, should the pair manage to decisively move past this immediate strong hurdle, the appreciating move is likely to get extended towards 1.0730-35 resistance area, en-route 23.6% Fibonacci retracement level resistance near 1.0770 region.