The EURO-USD rose on Tuesday, and the technical bias is bullish due to higher highs in the recent upward trend.
The EURO-USD is currently trading near 1.19570, and multiple resistance levels can be found above, which may prevent further price increases.
- Resistance Level 1: 1.19900
- Resistance Level 2: 1.20500
- Resistance Level 3: 1.21150
Below the price, multiple support levels can also be seen, which may help maintain the price above it.
- Support Level 1: 1.19000
- Support Level 2: 1.18600
- Support Level 3: 1.17950
In terms of data, on Wednesday, the US will announce its monthly important price index for March. The import price index refers to an index of average price change of imported goods in a country within a certain period of time. This data may have an impact on future inflation. The higher the data it shows, it is more favorable for the US Dollar, negative for the EURO-USD currency pairs and vise versa.
Viewing from the current price trends and economic development, it may be a good choice to buy the EURO-USD currency pair near the current level.