- EUR / USD climbed above 1.1850 but struggled to break through the resistance zone of 1.1900.
- A key uptrend line is forming with support near 1.1840 on the 4 hour chart.
EUR / USD technical analysis
Looking at the 4-hour chart, the pair remained well bid above the 1.1820 pivot level. It even settled above 1.1850, the 100 simple moving average (red, 4 hours) and the 200 simple moving average (green, 4 hours).
However, the bulls face a tough task near the 1.1900 resistance zone. The recent high formed around 1.1891 before the pair corrected lower.
However, there are many important supports, starting with 1.1850. There is also a key uptrend line forming with support near 1.1840 on the same chart. If there is a break down below the trendline support, the pair could test the 1.1800 support.
The 100 simple moving average (red, 4 hours) and the 200 simple moving average (green, 4 hours) are also close to 1.1795 to act as strong support. Any further loss could drive EUR / USD towards the support area at 1.1750.
On the upside, strong resistance is forming near the 1.1895 and 1.1900 levels. To continue higher and start a strong rally, the pair needs to establish above the resistance zone of 1.1900.