EUR/USD managed to get above the resistance at 1.2220 and is moving towards the next resistance level which is located at 1.2250.
In case EUR/USD manages to settle above this level, it will head towards the resistance at 1.2280. A successful test of this level will push EUR/USD towards the next resistance at 1.2310.
On the support side, the previous resistance at 1.2220 will serve as the first support level for EUR/USD. If EUR/USD gets back below this level, it will move towards 1.2200. A move below 1.2200 will open the way to the test of the support at the 20 EMA at 1.2175.
From a big picture point of view, EUR/USD received strong support near 1.2175 and continues its upside move. The U.S. dollar remains under significant pressure against a broad basket of currencies, and EUR/USD has good chances to gain additional upside momentum in the upcoming trading sessions.
In case EUR/USD manages to settle above this level, it will head towards the resistance at 1.2280. A successful test of this level will push EUR/USD towards the next resistance at 1.2310.
On the support side, the previous resistance at 1.2220 will serve as the first support level for EUR/USD. If EUR/USD gets back below this level, it will move towards 1.2200. A move below 1.2200 will open the way to the test of the support at the 20 EMA at 1.2175.
From a big picture point of view, EUR/USD received strong support near 1.2175 and continues its upside move. The U.S. dollar remains under significant pressure against a broad basket of currencies, and EUR/USD has good chances to gain additional upside momentum in the upcoming trading sessions.