The four-hour chart is showing that EUR/USD is in an uptrend since late March, but it faces issues at the triple-top of 1.1990. The Relative Strength Index is at around 70 – flirting with overbought conditions. That hints a downside correction is coming.
Euro/dollar has support at 1.1950, a swing high from March, followed by 1.1925 and 1.1860, which defined the currency pair's trading range earlier in April.
Above the critical cap of 1.1990, the next resistance lines are 1.2025, 1.2060, and 1.2105.
Euro/dollar has support at 1.1950, a swing high from March, followed by 1.1925 and 1.1860, which defined the currency pair's trading range earlier in April.
Above the critical cap of 1.1990, the next resistance lines are 1.2025, 1.2060, and 1.2105.