EUR/USD: To 1.2110 Or 1.1950? Lagarde Set To Break Tie Between Bulls And Bears

Overall, a tilt to the upside from the ECB could boost the euro.

EUR/USD Technical Analysis

(Click on image to enlarge)

Euro/dollar remains in an uptrend, as seen in the four-hour chart – at least while it holds above 1.20, a level that separated trading ranges. The currency pair trades above the 50, 100 and 200 Simple Moving Averages and momentum remains to the upside, boosting bulls.

Resistance awaits at 1.2080, April’s high, followed by 1.2110, which was a swing high in March. The upside target is 1.23.

Below critical support at 1.20, the next cushion is at 1.1950, followed by 1.1930 and 1.1860.

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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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