EUR-USD Targets Key Resistance
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (fxtechstrategy.com) -- Although the euro is maintaining an upside bias against the U.S. dollar, it will have to break and hold above 1.3288 level to convince the market of further gains. This development if seen will leave the pair aiming at the Dec. 5 high of 1.3484.
A violation of here will resume its uptrend and call for a push toward the Dec. 2 high at 1.3547, where a breach will target its weekly 200 exponential moving average at 1.3642. Its daily RSI is bullish and pointing higher supporting this view.
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