The Euro started a fresh increase above the 1.0850 resistance zone against the US Dollar. The EUR/USD pair even cleared the 1.0880 level to move into a positive zone.
It tested the 1.0925 zone and is currently consolidating gains well above the 50 hourly simple moving average. On the upside, an immediate resistance is near the 1.0925 level.
The next major resistance is near the 1.0950 level. A break above the 1.0950 resistance level could start another increase. In the stated case, it could rise towards the 1.1000 resistance.
Conversely, the pair might start a downside correction below 1.0900 on FXOpen. The next key support is near 1.0880, below the pair could drop towards the 1.0865 level or the 50 hourly simple moving average. Any more losses might send the pair towards the 1.0820 level in the near term.
