FXStreet Editor and Analyst, Omkar Godbole, expects EUR/USD might make another move towards its previous high at 1.1535 levels, with technicals supporting this view.
Key Quotes
“The pair witnessed an upside breakout from the trading range to test 1.1535 levels, before finishing at 1.1482 levels. Another attempt at 1.15 levels is seen, although gains appear to be capped around the 5 week moving average located at 1.1479 levels.”
“The weakness seen in the early Asian session was capped at support located on the hourly charts at 1.1459 levels.”
“Meanwhile, a sharp rally seen in the previous session has also led to a bullish crossover between the 5-DMA and the 10-DMA. The hourly RSI at 69.00 also favors an upside move. Thus, the pair is likely to make another attempt at the previous session’s high located at 1.1535 levels.”
“On the other hand, a break below 1.1448 levels shall open doors for 1.1385 levels on the downside.”
Key Quotes
“The pair witnessed an upside breakout from the trading range to test 1.1535 levels, before finishing at 1.1482 levels. Another attempt at 1.15 levels is seen, although gains appear to be capped around the 5 week moving average located at 1.1479 levels.”
“The weakness seen in the early Asian session was capped at support located on the hourly charts at 1.1459 levels.”
“Meanwhile, a sharp rally seen in the previous session has also led to a bullish crossover between the 5-DMA and the 10-DMA. The hourly RSI at 69.00 also favors an upside move. Thus, the pair is likely to make another attempt at the previous session’s high located at 1.1535 levels.”
“On the other hand, a break below 1.1448 levels shall open doors for 1.1385 levels on the downside.”
