As the U.S. dollar lingers near 3-year lows, the euro is testing 3-year highs—holding critical resistance zone at 1.1520.
This level marks a pivotal point, further challenging the broader downtrend that has shaped the EUR/USD chart since 2008.
A confirmed breakout above 1.1520 could open the door to further upside toward 1.17 and 1.20, revisiting the highs last seen in 2021.
Should the euro fail to break higher and begin to retreat, key support levels to watch include 1.1270, 1.1140, 1.1000, and 1.0920.
A potential pullback may be amplified if overbought momentum begins to fade—particularly as the current 3-day RSI levels echo those last observed in 2020.
Written by Razan Hilal, CMT
This level marks a pivotal point, further challenging the broader downtrend that has shaped the EUR/USD chart since 2008.
A confirmed breakout above 1.1520 could open the door to further upside toward 1.17 and 1.20, revisiting the highs last seen in 2021.
Should the euro fail to break higher and begin to retreat, key support levels to watch include 1.1270, 1.1140, 1.1000, and 1.0920.
A potential pullback may be amplified if overbought momentum begins to fade—particularly as the current 3-day RSI levels echo those last observed in 2020.
Written by Razan Hilal, CMT
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.