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  • The EUR/USD pair is currently trading at a session high of 1.1465 and is witnessing a falling wedge breakout – bearish-to-bullish trend change – on the daily chart.
  • The bullish pattern is backed by a positive cross between the 5-day and 10-day simple moving averages (SMAs), ascending (bullish) 50-, 100-, and 200-hour SMAs, and higher lows pattern on the hourly and 4-hour chart.
  • The indicators are also biased toward the bulls. For instance, the MACD is rising on the 4-hour chart and the RSI is printing bullish levels above 60.00.
  • The currency pair looks set to test the psychological level of 1.15.
  • The greenback is being offered across the board in Asia. As per the latest reports, Democrats Stephanie Murphy has won re-election to the US House in Florida’s 7th Congressional District. It is worth noting that a Democrat majority in both Chambers is seen as a USD-negative outcome.

Daily Chart

Hourly Chart

Trend: Bullish

EUR/USD

Overview:
       Last Price:  1.1465
       Daily change:  47  pips
       Daily change:  0.412%
       Daily Open:  1.1418
Trends:
       Daily SMA20:  1.1453
       Daily SMA50:  1.1557
       Daily SMA100:  1.1586
       Daily SMA200:  1.1857
Levels:
       Daily High:  1.1438
       Daily Low:  1.1392
       Weekly High:  1.1456
       Weekly Low:  1.1302
       Monthly High:  1.1625
       Monthly Low:  1.1302
       Daily Fibonacci 38.2%:  1.142
       Daily Fibonacci 61.8%:  1.1409
       Daily Pivot Point S1:  1.1394
       Daily Pivot Point S2:  1.1369
       Daily Pivot Point S3:  1.1347
       Daily Pivot Point R1:  1.144
       Daily Pivot Point R2:  1.1462
       Daily Pivot Point R3:  1.1487