EURUSD is prodding at the 1.2245 border, attempting to extend the upwards drive. The climbing simple moving averages (SMAs) are conveying a positive demeanour, promoting further advances in the pair.
The short-term oscillators are displaying growing positive momentum. The MACD, in the positive region, is climbing above its red trigger line, while the upwards creeping RSI is nearing the 70 level. Moreover, the stochastic %K line is moving higher above its %D line in overbought territory and has yet to signal any serious price fading.
Growing buying interest may see the price trace the upper Bollinger band, pushing over the 1.2245 instant resistance stemming back to April 2018. Overrunning this, the pair could jump to test the resistance band of 1.2289-1.2306. Should the climb prevail, the price may propel towards the 1.2352 barrier before targeting the 1.2400-1.2413 region of highs, from mid-April of 2018.
However, if sellers retake the reins, initial support may occur at the 1.2212 inside swing high ahead of the mid-Bollinger band at 1.2173. Retracing from here, sellers may encounter the tough section of lows of 1.2105-1.2124, which also encapsulates the lower Bollinger band. Furthermore, an even deeper pullback could be challenged by the support zone of 1.2058-1.2080, which is reinforced by the 100-period SMA within it.
Overall, EURUSD maintains a near-term positive tone above the SMAs and the 1.2105-1.2124 boundary.
