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Trading news
9 Mar 2020
EUR/USD: Door open to 1.15
EUR/USD has been trading with wild swings around the 14-month highs. Monday's four-hour chart is pointing to additional gains, as FXStreet’s analyst Yohay Elam notes.
Key quotes
“EUR/USD is at overbought territory on the daily chart – with the Relative Strength Index above 70.”
“Other indicators are positive, with momentum pointing up. The pair also trades above the 50, 100, and 200-day Simple Moving Averages.”
“Some resistance awaits at 1.1450, which capped EUR/USD in the spring of 2019. IT is followed by 1.1525 – above the 1.15 level – which was a high point in early 2019.”
“Support awaits at 1.1410, a high point from the summer of 2019, followed by 1.1350, a peak from the same time.”