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FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees further upside potential for EUR/USD towards 1.09 levels if the pair manages to trade above 1.0845.
Key Quotes
“Technically, the 1 hour chart shows that the price stands above its 20 SMA whilst the technical indicators bounced from their mid-lines and maintain a bullish slope.”
“In the 4 hours chart the technical indicators hold above their mid-lines albeit lack directional strength, whilst the price stands well above its moving averages in the 1.0740/60 region. If the pair manages to hold above 1.0845, chances are of an advance towards the 1.0900 figure, whilst a break below 1.0800 exposes it to a continued decline towards the 1.0740/60 price zone.”