EURUSD is taking rest – Technical Analysis – 13-10-2015

The EURUSD declined slightly yesterday attempting to gain the last short term rise profits, gathering some positive momentum, which might allow it to rise in order to attack 1.1400 resistance level, this key level represents 50% Fibonacci from the bearish wave measured from 1.1713 to 1.1087, supported by the positive moving average 50.

Therefore, we expect rising in the coming sessions, conditioned by breaching 1.1400 resistance and closing above it, targeting the next correctional level at 1.1474.