HomeContributorsTechnical AnalysisEUR/USD Approaching Resistance At 1.2434

EUR/USD Approaching Resistance At 1.2434

EUR/USD continues its rise, nearing hourly resistance at 1.2434 (26/02/2018 high) and largely recovering from 1.2155 low. Hourly resistance at 1.2112 (12/01/2018 low) is distanced. The technical structure suggests further upward moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).

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