EUR/USD Maintains Upward Momentum, Eyes Key Resistance at 1.10
Saturday, 13 July 2024, 10:31
EUR/USD Weekly Forecast
The EUR/USD pair extended its uptrend, hitting a peak at 1.0910, indicating a bullish outlook. The focus is now on breaching the crucial resistance level at 1.10.
Key Points:
- Bullish Momentum: The pair maintained its bullish momentum last week, with a potential target of 1.0979.
- Resistance Level: A break above 1.0915 could pave the way for further upside towards 1.10.
- Support Level: A drop below 1.0859 might shift the short-term bias to a neutral stance.
Conclusion: The EUR/USD pair is poised for further gains as it targets the key resistance at 1.10, although a downside move below 1.0859 could introduce a temporary pause in the bullish trend.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.