EUR/USD - EUR/USD Broke to the Upside 1.0670 - 01/18/2017 (GMT)

The euro traded extremely well against the U.S. dollar yesterday, gaining more than 1%. The EUR/USD pair surpassed the 1.0670 strong barrier to the upside and reached the 1.0720 price level. Over the last session, the single currency is developing above the 50-SMA which is sloping to the upside and now it seems that is ready to test the 1.0800 psychological level which overlaps with the 100-SMA on the daily chart. On the other hand, if the price slips below 1.0670 will found an obstacle near 1.0570.

From a technical point of view, the upward move will continue as the technical indicators moved higher above their mid-levels. RSI is sloping downwards today as the price is trading lower, however, MACD is holding within an overbought area with strong momentum.