On Tuesday, the Eurozone single currency surged by 36 pips or 0.29% against the US Dollar. The currency pair tested the 1.2260 level during yesterday’s trading session.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, bullish traders are likely to pressure the exchange rate higher during the following trading session.
However, the resistance line at 1.2260 could provide resistance for the EUR/USD currency exchange rate in the shorter term.
