EUR/USD Price Analysis: Grinds higher within falling wedge, 1.0940 is the key hurdle EURUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Bullish chart formation, upbeat oscillators favor Euro buyers to confirm falling wedge and aim for March 2022 peak. picks up bids to print mild gains around 1.0880 during early Tuesday as it defends the previous day’s rebound from a multi-day low ahead of the key European and the US catalysts. In doing so, the Euro pair remains firmer inside a two-week-old falling wedge bullish chart formation, bouncing off the stated pattern’s lower line of late.
Hence, the EUR/USD buyers are likely to keep the reins, at least technically, as they approach the key 1.0940 resistance confluence comprising the top line of the stated falling wedge and the 200-bar Exponential Moving Average . In a case where the EUR/USD remains firmer past 1.0940, the theory suggests a run-up towards a March 2022 high of near 1.1185. It should be observed that the 1.1000 round figure and the yearly high of around 1.1090 may act as buffers during the pair’s run-up towards 1.1185.
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