EUR/USD continues its upward trend despite stronger than expected US PPI data for June. The pair is currently on its third consecutive day of gains, approaching key resistance levels at 1.0919, 1.0981, and the psychological barrier of 1.10. This bullish momentum is also reflected in the pair’s third consecutive weekly gain.
Initial support for EUR/USD is seen at the broken Fibonacci 76.4% barrier at 1.0857, followed by the daily cloud top at 1.0835. Traders are anticipating further upside potential as long as market fundamentals remain favorable.
Key resistance levels for EUR/USD are at 1.0900, 1.0919, 1.0981, and 1.1000, while support levels are at 1.0857, 1.0835, 1.0821, and 1.0800.
For more technical analysis on EUR/USD, traders can refer to the chart provided above.