- The EUR/USD pair comes under some selling pressure on Wednesday.
- The pair could accelerate to the upside to break the yearly high at 1.0926.
EUR/USD seems to have found some initial resistance in the area just above 1.0900 on Wednesday.
The continuation of the uptrend now needs a quick break of the 2023 high at 1.0926 (Jan 23) to allow for a test of the weekly high at 1.0936 (April 21, 2022). A sustainable break above this level could pave the way for a challenge to the key barrier at 1.1000 in the not too distant future.
Meanwhile, if it continues above the near-term support line near 1.0660, the pair should continue to target further gains.
Longer-term, constructive view remains unchanged as long as it stays above the 200 SMA at 1.0308 today.
EUR/USD day chart
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.