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EUR/USD is trading flat just above the 1.10 level. Thursday’s four-hour chart is pointing to further gains, Yohay Elam, an analyst at FXStreet, informs.

Key quotes

“EUR/USD is enjoying upside momentum on the four-hour chart and the Relative Strength Index is below 70, outside overbought conditions. The currency pair also surpassed a downtrend that accompanied it since early May and is now trading under an uptrend.”

“Resistance awaits at the eight-week high of 1.1035. It is followed by 1.1090, which was a swing high in March.” 

“Support awaits at 1.0995, a stepping stone on the way up. It is followed by 1.0975, a swing high from last week.”