Technical Analysis EUR/USD for 9/10/15

The EUR/USD moved higher during the U.S. trading session, as yields declined following stocks lower.  Lower yields in the U.S. make the greenback less attractive, giving a boost to the currency pair. The exchange rate pushed through short term resistance near the 10-day moving average at 1.1199.  Support is seen near last week’s lows at 1.1085.  Momentum remains negative with the MACD printing in the red with a downward sloping trajectory.

German PM Merkel says that the Eurozone is enjoying an economic recovery, with the overall situation better than a year ago. Merkel stressed that the path of reform has been worth it. For Germany, the Chancellor expects 1.8% growth this year and in 2016 helped by solid budget policies.