The euro has surged higher against the US dollar during the European trading session, as the greenback comes under pressure despite yesterday’s rate increase from the US Federal Reserve. The EURUSD is now probing the 1.1470 resistance level, with the pairs 100-day moving average the key technical area to watch above the 1.1470 level. A break above the 100-day moving average may accelerate buying towards the 1.1550 level.
The EURUSD pair is strongly bullish while trading above the 1.1430 level, key technical resistance is found at 1.1490 and 1.1550 levels.
If the EURUSD pair trades below the 1.1430 level, key technical support is found at the 1.1400 and 1.1360 levels.
