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- EUR/USD remains in the 1.0780 zone on Thursday.
- Further gains are likely if we remain above the immediate support line near 1.0540.
EUR/USD appears to have found solid resistance in the area of recent highs around 1.0780.
Should the bulls remain in control, a break of the January high at 1.0776 (Jan 11) could put the May 2022 high back on the radar at 1.0786 (May 30) ahead of the round level at 1.0800 .
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As long as it remains above the short-term support line near 1.0540, the pair should maintain its bullish outlook.
Longer-term, constructive view remains as long as it is above the 200 SMA at 1.0308.
EUR/USD day chart
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Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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