- The EUR / USD daily chart shows a bullish breakout above a downtrend line.
- The pair appears poised to test higher resistance levels.
EUR / USD is looking higher and could test the resistance of the 50-day SMA at 1.2150, technical charts show.
The pair rose 0.6% to 1.2117 on Tuesday, confirming the break to the upside of a trend line connecting the highs of January 6 and 29.
Supported by a reading above 50 points on the RSI and the looming positive turn of the MACD histogram, the break of the trend line represents the end of the pullback from the January 6 high from 1.2349 and the bullish revival.
As such, higher resistance levels could come into play later on Wednesday.
EUR / USD daily chart
EUR / USD technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
