EUR/USD: Uptrend support line at stake

Yohay Elam, an analyst at FXStreet, believes EUR/USD is seeing its last rise, up 0.12% on the day to 1.1881, as Tuesday's 4-hour chart shows the pair is trading alongside uptrend support.

Key quotes

“EUR/USD is trading above an uptrend support line that has been accompanying it in the past week. The currency pair is benefiting from upside momentum on the 4-hour chart and trading above the 50, 100, and 200 Simple Moving Averages. The Relative Strength Index is on high ground, but still below 70, outside overbought conditions.”

“Significant resistance awaits at 1.1920, a swing high from last week. It is followed by 1.1965, a temporary separator of ranges from early September. The 2020 peak of 1.2010 is next.” 

“Support awaits at 1.1860, which is the daily low. It is followed by 1.1820, a support line from last week, followed by 1.1785 and 1.1750.”