Technical analysis
The price is above MACD and 24 – and 120- period EMA
The RSI is above 50, indicating the uptrend.
What the possible outcomes are
The pair is trading above the 24-period EMA and the 120-period EMA in close contact with them, indicating that the bulls gained momentum to take over the market.
A breakout of the 1.22023 resistance level can push the price towards 1.22474 and 1.22799.
The RSI is above 50 and indicates a possible continued growth in combination with the MACD.
Contrarily, if the bears break the support at 1.21603 level, the support levels will move to 1.21210 and 1.20717.
Key levels:
Support 1.21603 1.21210 1.20717
Resistance 1.22023 1.22474 1.22799
