EUR/USD update

15 lug

EUR/USD is attempting to build the gains for a fourth straight session as resistance at 1.0915 becomes evident. The pair will need to breach and consolidate above this level to avoid falling into a double-top pattern which would reignite the bearish pullback. Beyond this level, further resistance could arise around 1.0945 before attempting to reach the 1.10 level for the first time since early January.

The moving averages are starting to reposition themselves in a bullish formation with the 50-day SMA crossing above the 100-day and 200-day SMAs and the 20-day SMA attempting to close the gap from below. Nonetheless, we may see buyers questioning the ability for further continuation given the extent of the rally over the past two weeks.

15 lug

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