The EUR/USD pair is neutral, according to technical readings in the daily chart, although the risk skews to the upside. A flat 20 Simple Moving Average (SMA) provides near-term support at around 1.0565, while the 100 and 200 SMAs converge around 1.0810. Technical indicators, in the meantime, gain upward traction around their midlines as EUR/USD accelerates north above the 1.0600 mark.
The 4-hour chart favors an upward continuation as the pair develops above all its moving averages, although the 20 SMA remains below the longer ones. Finally, technical indicators consolidate well above their midlines without signs of bullish exhaustion. A strong static resistance level comes at 1.0650, the level to surpass to confirm a bullish extension in the upcoming sessions.
Support levels: 1.0565 1.0520 1.0485
Resistance levels: 1.0640 1.0690 1.0725
The 4-hour chart favors an upward continuation as the pair develops above all its moving averages, although the 20 SMA remains below the longer ones. Finally, technical indicators consolidate well above their midlines without signs of bullish exhaustion. A strong static resistance level comes at 1.0650, the level to surpass to confirm a bullish extension in the upcoming sessions.
Support levels: 1.0565 1.0520 1.0485
Resistance levels: 1.0640 1.0690 1.0725