Yesterday the EURUSD rallied but this time with a narrow range but closed near the high of the day, furthermore managed to close above previous day range, which suggests a strong bullish momentum.
The pair is trading above the 10-day moving average that should act as a dynamic support however the currency pair continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: Fibonacci retracement at 1.1181 (resistance), the 50-day moving average at 1.1113 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.0954 (support), a daily support at 1.0900 and October low at 1.0851.