The EURUSD pair has consolidated between its moving averages over the recent sessions. The top of the range is marked out with the 50 and 100 moving averages at 1.23425 and the bottom with the 200-period moving average at 1.22814. While this range is narrow, price action is building energy here for an eventual breakout. Further support is located at 1.23232 and 1.22960. Below this, the 1.22400 and 1.22141 levels are supportive. Resistance above the 200-period MA comes in at 1.23759 and the 1.24000 level. These resistances are followed by 1.24593. The 1.25000 area has been tested but the price has been knocked back lower from its advances above that level. In order to advance higher, traders need to carry the price higher and hold above 1.25000, after a test of the highs at 1.25372 and 1.25549. GER30 The German Index is currently testing the 12600 level in an attempt to reach the previously supportive turned resistance trend line at 12612.8. This line represents the division between Bulls and Bears on the Daily chart. Just above this area is the 200 DMA at 12657.5, followed by the 50 DMA at 12809.4, with the 100 DMA at 12852.0. The 12900.0 and 13000.0 levels represent the next resistances, with 13133.0 a significant level as it was the last bullish support level tested before the selloff at the beginning of this month. Support below is found around 12550.0, followed by 12473.9 and 12337.3. The Blue rising support trend line has only two touches and needs to be confirmed before it becomes more significant support. However, its relatively steep angle suggests it may be broken sooner rather than later. It is currently located at 12375.0. A break of this line would target 12212.4 and 12096.5. The 12000.0 presents a level of support quite a distance from the current price level and a retracement to this area would worry many bullish traders. A loss here targets 11914.9 followed by 11681.2.
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