EUR/USD - Climbed to a Five-Month High at 1.0950 - 04/26/2017 (GMT)

The EUR/USD pair completed a positive day after the French elections on Sunday that had a strong impact to the pair. The price opened with a gap up but tried to recover some of its gains in the previous days. On Tuesday, the common currency pair recorded a fresh five-month high at 1.0950. We could see a strength in U.S. dollar due to Donald Trump’s impending tax announcement if the traders like what they hear. So, a retracement is possible until he 1.0870 support level.

On the other side, if there is a jump above the 1.0950 resistance level the price will open the door for the next resistance level at 1.1140. The price needs to overcome the 200-weekly SMA which is near to 1.1000 psychological level before run away. The RSI indicator entered within the overbought path as well as the MACD oscillator which is strengthening.