FxWirePro: ETH/EUR extends grind higher along 5-DMA, break above 20-DMA required for further upside

• ETH/EUR extends grind higher along 5-DMA which offers immediate support at 326 levels.
   
• The pair is trading an extremely narrow range, hit a day's high of 339 and a low of 333.
   
• Upside finds stiff resistance at 20-DMA at 342 and we need break above to see further upside.
   
• Technical indicators are showing signs of bullishness. Stochs are sharply higher and RSI has rolled over from oversold levels.
   
• Break above 20-DMA raises scope for test of 55-EMA at 475 levels.
   
• On the flipside, retrace below 5-DMA could see test of 285 (major trendline). Violation at trendline could see further weakness.

Support levels - 326 (5-DMA), 300, 285 (major trendline)

Resistance levels - 342 (20-DMA), 400, 475 (55-EMA)

Recommendation: Good to go long on decisive break above 20-DMA, SL: 315, TP: 400/ 485

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