Black Pipper

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EUR/USD: Euro is rising hesitantly towards 1.1103

On the daily chart, EUR/USD is in a downtrend below the 200-day SMA. The market has gone up over the 50/200-day MAs this week. The EUR/USD has moved close to the 1.1103 resistance. Although the upward movement has been slowed down, the cops remain at the helm. Rise above the 1.1103 resistance is needed to increase the upward movement towards 1.1138 and 1.1161/78.

Technical levels

S1 1.1059
S2 1.1038
S3 1.1009

R1 1.1108
R2 1.1137
R3 1.1158


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