Thursday 20 August 2015

EUR/USD Is Testing The Resistance




EUR/USD failed to break below the support at 1.1000 and started moving to the upside. The fundamentals yesterday gave it the necessary push to break above the resistance at 1.1130 and the pair continued climbing higher, eventually reaching the previous high at 1.1213 and climbing even a little higher than that, but so far the break above that resistance isn’t confirmed. Should EUR/USD manage to properly break above the 1.1213 we can likely expect it to continue moving towards the next resistance level, which is visible on the weekly filter chart and is at 1.1400.

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