EUR / USD Wednesday four-hour chart lightly painted improving the image of bulls, according to Yohay Elam, analyst at FXStreet.
“The series of higher highs and lows is bullish, but the movements are limited and the currency pair is trading below the moving averages of 50, 100 and 200 on the four-hour chart.”
Support is waiting at 1.08, where the uptrend support line hits the price. It was followed by 1.0785, which was a swing low earlier this week, and closely followed by 1.0765, the May low. “
Resistance awaits at 1.0855, which was a recent ceiling and where the 50 and 200 SMA converge. The stubborn cap 1.0890 and 1.0925 are as follows. “