EUR/USD: Can The Euro Ride On America’s Success? Not So Fast

Momentum on the four-hour chart is to the upside, and euro/dollar also trades above the 50 Simple Moving Average. However, it remains capped below the 100 and 200 SMAs. All in all, the picture is mixed.

Some resistance awaits at the daily high of 1.1820, followed by 1.1875, which provided support in March. It is followed by 1.1910 and 1.1950.

Support is at 1.1785, a resistance line from last week, followed by 1.1760, 1.1740 and finally by the round 1.17 level.

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Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk ...

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