EUR/USD technical analysis: Euro grinds up approaching 1.1347 resistance
- EUR/USD is extending its gains now approaching 1.1347 resistance.
- Support is seen at 1.1306 and 1.1260 according to the Technical Confluences Indicator.
EUR/USD daily chart
EUR/USD is in a bear trend below its 200-day simple moving average (DSMA). However, the single currency has been rebounding for the third consecutive day.
EUR/USD 4-hour chart
The market is trading above its main SMAs suggesting bullish momentum. Bulls broke above 1.1320 resistance opening to doors to 1.1347 which is a strong resistance. If cleared 1.1400 can become the next pit stop for bulls, according to the Technical Confluences Indicator.
EUR/USD is trading above its main SMAs suggesting a bullish bias in the near term. According to the Technical Confluences Indicator, there is mild support is at 1.1306 and strong support at 1.1260.
Additional key levels
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.