EUR/USD Analysis: Tries pushing higher

Dukascopy Bank Team Dukascopy Bank SA

Thursday's trading session did not introduce massive changes to the direction of EUR/USD. The pair tried to move past the 1.1840 mark but was nevertheless pressured lower by the 55-hour SMA.

As apparent on the chart, the Euro diminished its trading range against the US Dollar yesterday, thus being stranded between the aforementioned SMA and a short-term trend-line.

It is expected that the former is surpassed today, thus paving the way for further surge up to the 100– and 200-hour moving averages at 1.1770. Technical indicators on the 4H and 1D time-frames suggest that this appreciation should continue during the following week, as well.

In case the 55-hour SMA remains intact, the Euro is to target the 1.1740 area.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.1891
2. R2 1.1864
3. R1 1.1829
PP 1.1803
1. S1 1.1768
2. S2 1.1741
3. S3 1.1706

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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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