On Wednesday, the EUR/USD currency pair bounced off a support level formed by the 200– hour simple moving average at 1.1729. As a result, the common European currency surged by 43 pips or 0.37% against the US Dollar during Wednesday’s trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could continue to edge higher during the following trading session.
However, bullish traders may encounter the weekly resistance level at 1.1782 within this session.
