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EUR/USD pushes toward 1.1580 resistance as 1.1620 becomes key

The pair is holding above 1.1500 and has tested 1.1580, with 1.1535 flagged as the next support if it pulls back.

Reported · Written up by our desk · Major Pairs

EUR/USD is trading higher after the euro held above 1.1500 against the US dollar, and the pair climbed back through the 1.1550 resistance zone, according to technical levels outlined by Action Forex.

On the 4-hour chart, EUR/USD tested the 1.1580 resistance and settled above both the 100 simple moving average and the 200 simple moving average, suggesting near-term support as it approaches a major hurdle at 1.1580.

Action Forex flagged 1.1620 as the next pivot point, saying a close above that level could open the door to another steady increase, with upside targets at 1.1685 and potentially 1.1750.

On the downside, the next bids were listed near 1.1535, with further support levels at 1.1500, then 1.1460 and the 200 simple moving average, while a deeper break could extend losses toward 1.1420 and 1.1350.

Latest closeEUR/USD 1.157 ▲0.4%

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