The post Rises toward 1.1000 ahead of three-month highs appeared on BitcoinEthereumNews.com.

EUR/USD may extend its upside as the daily chart analysis shows a bullish inclination. The pair may face a potential resistance near a three-month high at 1.0915. The lower boundary of the ascending channel around 1.0830 level could act as immediate support. EUR/USD continues its winning streak for the third successive day, trading around 1.0870 during the Asian hours on Friday. The EUR/USD pair found support as the US Dollar (USD) weakened following softer-than-expected US Consumer Price Index (CPI) data in June. This has increased expectations of a potential Federal Reserve (Fed) rate cut in September. The technical analysis of the daily chart shows a bullish inclination, with the pair moving within an ascending channel. Furthermore, the 14-day Relative Strength Index (RSI), a momentum indicator, is above the level of 50, confirming the bullish trend for the EUR/USD pair. Continued upward movement could reinforce the pair’s bullish bias. The EUR/USD pair faces potential resistance near a three-month high at 1.0915. Further barrier appears around the upper boundary of the ascending channel around 1.0960. A breakthrough above this level could lead the pair to explore the region around the psychological level of 1.1000. On the downside, initial support for EUR/USD lies near the lower boundary of the ascending channel around the 1.0830 level, followed by the nine-day Exponential Moving Average (EMA) at the level of 1.0822. A breach below the latter might increase downward pressure, targeting support around the key level of 1.0670, potentially serving as a rebound support level. EUR/USD: Daily Chart Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.   USD EUR GBP JPY CAD AUD NZD CHF USD   -0.03% 0.01% 0.11% -0.08% -0.14% -0.10% -0.03% EUR 0.03%   0.04%…

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Filed under: News - @ July 12, 2024 7:16 am