On the last Friday’s session the EURUSD rallied with a wide range but and closed near the high of the day, in addition the currency pair managed to close above Thursday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1237, a daily support at 1.1097, the 10-day moving average at 1.1061 (support), previous wing high at 1.1021 (support) and a key level at 1.0970 (support).
After a very brief retracement today that reached a low at 1.1160 EUR/USD finally decisively broke out above the resistance at 1.1200 and formed a new high at 1.1245. The move to the upside will likely continue at least to 1.1300, and a breakout above that level could lead to a further move north to 1.1360.
The EUR/USD is trading around 1.1250 this morning. In case of breaking 1.1284, next bulls target is seen at 1.1366 and higher at 1.1400 level. On the other side, a break below 1.1200 will open doors for testting March’s high at 1.0906.
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Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.