The EURUSD rose last Friday that led to three consecutive weeks of gains. Due to the higher high in the recent upward trend, technical bias is still bullish.
The EURUSD currency pair is currently around 1.20950, and multiple resistance levels can be seen above, which may prevent further price increases.
- Resistance level 1: 1.21340
- Resistance level 2: 1.21860
- Resistance level 3: 1.22450
Below the price, multiple support levels can be found, and these price levels will help maintain the price above it.
- Support level 1: 1.20550
- Support level 2: 1.20000
- Support level 3: 1.19450
In terms of data, the Federal Open Market Committee (FOMC) will begin a two-day interest rate resolution this Tuesday and will announce its interest rate resolution and make a statement on Thursday. The hawks’ remarks or the increase in interest rates indicate that it is beneficial to the U.S dollar.
Looking at the recent price trends and economic developments, it may be a good choice to buy the EURUSD currency pair near the current level.