The EUR/USD pair has room to extend its gains according to the daily chart, as it managed to advance beyond a mildly bearish 20 SMA, now facing resistance around 0.9980, where a daily descendant trend line coming from the year high at 1.1494 stands. The same chart shows that technical indicators aim firmly higher, the Momentum well above its 100 level, but the RSI at around its 50 level.
The 4-hour chart shows that the pair rallied above its 20 and 100 SMAs, with the shorter one about to cross above the longer one, both around 0.9750. The 200 SMA provides resistance at 0.9865, while technical indicators hold near overbought levels, supporting another leg higher in the near term.
Support levels: 0.979,0 0.9750, 0.9710
Resistance levels: 0.9865, 0.9900, 0.9940
Write a comment
Your email address will not be published. All fields are required