- After EUR/USD tried to break below the 2018 lows earlier in Europe, the currency pair reversed up and broke the 1.1600 figure and Wednesday’s high.
- EUR/USD is trading above the hourly 50 and 100-period flat simple moving average (SMA) suggesting the bear momentum has slowed down.
- Euro bulls will need to break out above the current week's high at 1.1645 in order to potentially reach the 1.1730 key level. A failure to break above 1.1645 could lead to a rotation down towards 1.1575, the SMA confluence on the 15-minute chart.
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Spot rate: 1.1617
Relative change: 0.40%
High: 1.1634
Low: 1.1508
Trend: Neutral
Resistance 1: 1.1645 current week’s high
Resistance 2: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Resistance 3: 1.1800 figure
Support 1: 1.1600 figure
Support 2: 1.1575 SMA confluence 15-min chart
Support 3: 1.1508, current 2018 low
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