EUR/USD Technical Analysis: Directionless ahead of Euro-zone CPI

   •  The pair has been recovering alongside an ascending trend-line on the 1-hourly chart and has, so far, managed to hold above 50-hour SMA.

   •  However, technical indicators on the mentioned chart have failed to gain positive momentum and hence, the near-term direction remains undefined.

   •  The final Euro-zone CPI print might provide the required boost to break through the 1.1400-10 immediate barrier and aim towards testing 200-hour SMA.

EUR/USD 1-hourly chart

Spot Rate: 1.1384
Daily High: 1.1395
Daily Low: 1.1367
Trend: Neutral

Resistance
R1: 1.1409 (overnight swing high)
R2: 1.1460 (200-period SMA H1)
R3: 1.1486 (R3 daily pivot-point)

Support
S1: 1.1360 (50-period SMA H1)
S2: 1.1339 (S1 daily pivot-point)
S3: 1.1301 (over 13-month low set on Wednesday)