12:18 PM · 28 November 2022

EURUSD highest since end of June

EURUSD pair jumped to five month high at the beginning of new week despite weak market sentiment caused by protests in China. Nevertheless buyers struggle to break above the major resistance area around 1.0500 and currently we can observe a slight pullback from this zone. Nearest major support to watch can be found around 1.0400 level and 1.0317 which is marked with 23.6% Fibonacci retracement of the last upward wave. On the other hand, if buyers manage to uphold recent momentum, then upward move may accelerate towards next resistance at 1.0600.

EURUSD, H4 interval. Source: xStation5

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Forex
Technical analysis

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