EUR/USD: Gaining upward traction

The EUR/USD pair is pressuring its weekly high ahead of the US opening, although its bullish potential is quite limited, according to FXStreet’s Chief Analyst Valeria Bednarik. 

Key quotes 

“The EUR/USD 4-hour chart shows that it´s trading within directionless moving averages, while the Momentum indicator remains stuck to neutral levels. The RSI advances within familiar levels, currently at 62.” 

“The EUR/USD pair could extend its advance as long as it holds above 1.0950, a Fibonacci support level, although sustainable gains beyond the 1.1000 figure seem unlikely at the time being.”

“Support levels: 1.0950 1.0910 Resistance levels: 1.0990 1.1020”