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HomeContributorsTechnical AnalysisEUR/USD Pair is Now Rising and Trading above 1.0400

EUR/USD Pair is Now Rising and Trading above 1.0400

FXOpen
By FXOpen

The Euro started a steady increase above the 1.0300 and 1.0320 resistance levels against the US Dollar. The EUR/USD pair gained pace above the 1.0380 level to move into a positive zone.

It tested the 1.0450 zone before there was a correction towards 1.0380. The pair is now rising and trading above the 1.0400 level and the 50 hourly simple moving average. It seems to be facing resistance near the 1.0415 on FXOpen.

The first major resistance is near the 1.0432 level. A break above the 1.0432 resistance level could start a fresh upward wave. In the stated case, it could even climb above 1.0450.

Conversely, the pair might start a fresh drop below 1.0385. The next key support is near 1.0350, below the pair could drop towards the 1.0320 level. Any more losses might send the pair towards the 1.0300 level in the coming sessions.

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