Home EUR/USD Price Analysis: Euro pressuring 2020 highs and nearing 1.1500 figure
FXStreet News

EUR/USD Price Analysis: Euro pressuring 2020 highs and nearing 1.1500 figure

  • EUR/USD bullish pressure remains unabated after the London close. 
  • The level to beat for bulls is the 1.1471 resistance.
 

EUR/USD weekly chart 

 
EUR/USD is reversing up sharply from 34-month lows as the spot is virtually erasing the 2019 losses in about three weeks of trading. There are no signs that the spot might slow down and a spike to the 2019 highs in the 1.1569/1.6000 price zone remains on the cards.
 

EUR/USD four-hour chart

 
EUR/USD is pressuring the 1.1471 resistance as the London session came to an end. As the bulls remain in control EUR/USD has room to climb towards the 1.1518 and 1.1566 price levels. Support can emerge near the 1.1400/1.1363 price zone and 1.1300 figure, according to the Technical Confluences Indicator.   
 
 
Resistance: 1.1471, 1.1518, 1.1566
Support: 1.1400, 1.1363, 1.1300
 

Additional key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.