The EUR/USD pair is pressuring its weekly high ahead of the US opening, although its bullish potential is quite limited, according to FXStreet’s Chief Analyst Valeria Bednarik.
Key quotes
“The EUR/USD 4-hour chart shows that it´s trading within directionless moving averages, while the Momentum indicator remains stuck to neutral levels. The RSI advances within familiar levels, currently at 62.”
“The EUR/USD pair could extend its advance as long as it holds above 1.0950, a Fibonacci support level, although sustainable gains beyond the 1.1000 figure seem unlikely at the time being.”
“Support levels: 1.0950 1.0910 Resistance levels: 1.0990 1.1020”
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