The EUR/USD forex pair is currently trading at around $1.0957, up 0.12 percent today. The last low was reached on May 31 at around $1.0635, while the last high was on May 04 at around $1.1092. Since 07 June, the pair has been in an upward movement.
The next resistance is at $1.0983, while the next support is at $1.07. Currently, the upward movement is expected to continue and the EUR/USD pair will rise towards the USD 1.10 level. However, if this resistance is not overcome, we could see a descent to support at $1.07 and then further to $1.0519.
For further developments, it is important to keep an eye on upcoming economic figures and deadlines.
Overall, the technical chart analysis suggests that the EUR/USD pair is currently in an uptrend. This movement is expected to continue towards $1.10. If the resistance at 1.0983 US dollars is overcome, this could allow for further upward movement. However, if resistance holds, we could see a decline to support at $1.07 and possibly further to $1.0519. The upcoming economic figures and dates, in particular the publication of the consumer price index, may provide additional impetus for the price development.
