EURUSD Weekly Analysis
The EURUSD currency pair has given a close and subsequent upside move above the previous consolidation range highs. As expected, fiber was rangebound on low liquidity during the UK bank holiday session on Friday but still remains on top of the 1.4500 level, which is a key area, and also inside the ascending channel.
Looking at the recent bullish price action – the upside looks to be the most probable direction towards the 1.4800 level, this level is is a resistance turned support zone. Any subsequent move higher, going forwards, will have to contend 1.5000 which is a major psychological number followed by the 1.5143 level which is the 2009 swing high point.
Nick can be found writing at this Forex trading blog