EUR/USD analysis: Could edge higher

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD

On Thursday, the Eurozone currency surged by 24 pips or 0.20% against the US Dollar. The currency pair breached the 55-, 100– and 200– hour SMAs during Thursday's trading session.

The EUR/USD exchange rate is likely to continue to edge higher during the following trading session. The next target for bullish traders will be near the 1.2240 area.

However, the currency exchange rate could reverse from the current price level at 1.2188 and target the 1.2140 level in this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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