FxWirePro: ETH/EUR holds above 21-EMA, break below could see resumption of weakness

• ETH/EUR is trading in a narrow range, remains capped below 50-DMA.
   
• Daily cloud offers stiff resistance, breakout could see further upside.
   
• Downside finds strong support at 21-EMA at 398, decisive break below will see further weakness.
   
• Technical indicators on daily charts are turning bearish. RSI and Stochs are biased lower.
   
• Close below 21-EMA will see test of 361 level (strong trendline). On the flipside, we see upside only on break above 55-EMA. 

Support levels - 394 (20-DMA), 371 (78.6% Fib), 361 (trendline)

Resistance levels - 409 (5-DMA), 429 (55-EMA), 440 (61.8% Fib)

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at -22.336 (Neutral) at 1245 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.