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The EUR/USD pair continues its gradual upward trend, reaching a high of 1.1680 in line with earlier expectations.
Technical Outlook – 4-Hour Timeframe:
The pair has formed strong support near 1.1630, with simple moving averages maintaining positive momentum and reinforcing the bullish bias. The Relative Strength Index (RSI) also continues to generate positive signals, including a bullish divergence following previous oversold conditions. Price action remains stable, supporting further upward movement.
Likely Technical Scenario:
As long as daily trading stays above 1.1630 and broadly above 1.1600, the bullish outlook remains valid, targeting the initial resistance at 1.1680. A break above this level could extend gains toward 1.1720.
Conversely, stability below the mentioned support may hinder upward attempts and open the door for a retest of 1.1570.
Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.1630 | R1: 1.1680 |
| S2: 1.1600 | R2: 1.1720 |
| S3: 1.1570 | R3: 1.1755 |
