Technical analysis of EUR/USD
EUR/USD continues to rise, hitting new highs for the second day in a row and approaching key resistance levels at 1.1000-1.1015. A break above this level would pave the way for a rally towards 1.1100.
Conversely, if the bullish momentum weakens and the price declines, the first support lies at the 200-day SMA near 1.0830. The pair is likely to consolidate again in this zone before recovering further. However, if the bearish momentum continues to increase, trendline support at 1.0770 will come into view.
Conversely, if the bullish momentum weakens and the price declines, the first support lies at the 200-day SMA near 1.0830. The pair is likely to consolidate again in this zone before recovering further. However, if the bearish momentum continues to increase, trendline support at 1.0770 will come into view.
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