EUR/USD - Climbed Above 1.0640 Support Level - 02/17/2017 (GMT)

Yesterday, the EUR/USD pair had one of the best performing days since the beginning of the year. Over the last two daily trading session, the euro rose more than 0.9% versus the greenback and climbed above the 1.0640 strong barrier. Additionally, the common currency pair surpassed the 50 and 200 SMAs on the 4-hour chart and stuck slightly below the 100-daily SMA. Following the bounce off the 1.0520 support obstacle, the bulls push the pair further up and our expectation is a retest of the 1.0715 resistance level. However, if the price fails to jump above the 100-daily SMA, it will drive the pair to the downside again until 1.0590.

Technically, the technical indicators are following a positive path. The Relative Strength Index (RSI) indicator soared above the 50 level, however, now is flattening in the bullish area. The MACD oscillator is rising and is developing above its trigger and zero lines.