The single currency recorded an increase against the US dollar on Thursday. The session started at 1.1290 and ended 31 pips higher. The graphics continue to develop above the moving averages, while the index of relative strength remained on neutral territory. If the upward trend continues, we can expect the first test of resistance at 1.1363.
Yesterday the EURUSD initially rallied but found enough selling pressure to give back some of its gains and closed at the middle of the daily range, however closed above the previous day high, suggesting a weak bullish momentum.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1555, other daily resistance at 1.1460, daily support at 1.1237, other daily support at 1.1097, the 10-day moving average at 1.1187 (support) and the 200-day moving average at 1.1026 (support).
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