EUR/USD - Printed a New 10-Month High - Next Immediate Resistance 1.1430 - 06/29/2017 (GMT)

The common currency pair is moving sharply higher over the last couple of days and posted a ten-month high while it is approaching the 1.1430 resistance barrier. The buying interest helped the pair to complete two bullish days and we are expecting for further gains. The EUR/USD pair surged more than 1.8% this week whilst the aggressive upward move may drive the price towards the next immediate psychological resistance level at 1.1500.

From a technical point of view, on the daily chart, the consolidation area 1.1130 – 1.1285 penetrated to the upside while the simple moving averages are sloping north. The RSI indicator hit the 70 level as well as the overbought zone. The MACD oscillator created a positive crossover with its trigger line, indicating a stronger pair in the next sessions.