EUR/USD Higher on Technicals

EUR/USD is trading to the upside in today's session after yesterday rest at the 200SMA. The pair reached a high of 1.1154 and is currently trading at 1.1147. Main trend for the short-term remains bullish with major bull target at 1.1250. If this level is taken over we might confirm that the euro is in for a rally. 

Until then, first support zone is seen at last low of 1.1070. If the US economy continues to improve with same pace, the FED is expected to raise rates which will further depreciate the pair. Major support level is seen at 1.08. If it fails to hold, market participants might see the pair test the lowest low of 1.0465 from March 2015.

Chart: EUR/USD H4