EUR/USD Update: Key Resistance and Support Levels

Exciting news for EURUSD as it has recently broken above the resistance level at 1.0945. The next obstacle in its path is the resistance level at 1.1008. If the currency pair manages to break through this level, it would indicate that the upward trend from 1.0665 has resumed. The next targets to watch out for would be at 1.1050, followed by the 1.1100 area.

On the flip side, if the price fails to break above the resistance at 1.1008, we may see a pullback. The initial support level to keep an eye on is at 1.0965. A breakdown below this level could signal a move towards the next support level at 1.0930. If the price continues to drop, the next key support area would be at 1.0900.

Keep a close eye on these levels and use them to guide your trading decisions. As always, make sure to have a solid risk management strategy in place to protect your capital.

by ForexInflux