EURUSD Advances After "Optimistic" News from Russia

Sentiment improved on Friday after news that Russia is ready to send a delegation to Minsk for Ukraine talks. Nevertheless, the battle of Kyiv is about to start with the Russian forces closing in on the capital city. 

The EURUSD pair rallied back above the significant support of 1.12. suggesting risk-aversion might be easing. The short-term outlook looks bullish as long as the pair trades above that level. 

The first target for bulls could be near 1.1280, where previous lows are, while the following resistance will likely be at the 50-day moving average (the purple line) at around 1.1320. The key selling area is spotted at 1.1380.

Alternatively, if the situation deteriorates again, the 1.12 level could be broken to the downside, likely targeting previous lows in the 1.1120 area.