EUR/USD Soars Above 1.1500, Targets Higher Levels

The EUR/USD currency pair is continuing its upward trend, breaking above the 1.1500 level and trading above a key bearish trend line with resistance at 1.1410 on the 4-hour chart.

This move has been significant, as it has also seen the pair close above both the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).

Looking ahead, analysts expect support near 1.1480 or the 38.2% Fib retracement level of the upward move from the 1.1353 swing low to the 1.1558 high if there is a downside correction.

In contrast, any further gains could see the pair reach resistance levels at 1.1550 and potentially even higher targets such as 1.1620 or 1.1650.