Trader, analyst and instructor with a 6-year experience

Despite all the negative projections, EUR/USD keeps edging higher, gradually approaching the key resistance of $1.3260 (76.4% Fibonacci from the recent decline). On Wednesday the pair strengthened to $1.3255, supported by upbeat euro zone’s PMIs.

Tuesday close above $1.3200 improved the prospects of the pair. One may see that EUR keeps trading above the bullish daily Ichimoku. The daily Tenkan-sen holds above the Kijun-sen, what is also a positive sign.

The $1.3260 level is a strong resistance for now, so there is a chance that the rally could slow at these levels. Rise above this level could open the way to $1.3300/3330 (2013 resistance trend line). The next resistance lies at $1.3415 (June high). 

Chart. H4 EUR/USD

Scroll to top