EUR/USD Wednesday’s 4-hour chart is showing bulls are in the lead with next resistance awaiting at the 1.1384 month high, Yohay Elam, an analyst at FXStreet, reports.
Key quotes
“EUR/USD is trading above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart, and momentum remains to the upside. The Relative Strength Index remains below 70, outside overbought conditions, despite the recent surge.”
“Resistance awaits at June’s high of 1.1384, followed by levels last seen in March – 1.1410, which was a stepping stone on the way down, and 1.1495, the yearly high.”
“Support awaits at 1.1330, the daily low, followed by Tuesday’s trough of 1.1240.”
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