EURUSD rose on Tuesday and the technical bias is bullish due to higher highs in the recent uptrend.
The pair is currently trading near 1.22514, and multiple resistance levels can be seen above which may prevent the price from rising further.
- Resistance level 1: 1.22750
- Resistance level 2: 1.23100
- Resistance level 3: 1.23400
Below the price, multiple support levels can be seen which may prevent the price from falling.
- Support level 1: 1.22350
- Support level 2: 1.22170
- Support level 3: 1.21880
United States will announce the first quarter GDP data on Thursday. Higher data will indicate favorable for the US dollar, so it is negative for the EURUSD currency pair, and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to buy the EURUSD currency pair near the current price.