The EUR/USD pair edged sharply higher on Thursday and completed a bullish day adding more than 0.6% at its value. On the hourly basis, the common currency pair completed nine green sessions in a row and recovered some ground of the previous day’s losses on the back of the European Central Bank hawkishness. Looking on the weekly chart, the price is in progress to end the period near its opening level and it may record another positive week. During the previous week, the price soared more than 2% confirming the bullish attitude.
Our next target for the EUR/USD is the 1.1500 psychological resistance level and then higher to the first resistance level of the JFD pivot point, near 1.1540. However, if the pair doesn’t manage to pass above 1.1445, we may see some losses until the 1.1285 - 1.1300 support zone. The Relative Strength Index (RSI) is facing some weakness in the positive area between 50 and 70 levels. Meanwhile, the MACD oscillator is crossing above its trigger line sending a bullish signal.
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