EUR/USD about to post new daily highs above 1.1845

EUR/USD refreshes daily tops around the 1.1845 region as Friday's 4-hour chart is painting a bullish picture for the currency pair, Yohay Elam, an Analyst at FXStreet, reports.

Key quotes

“Euro/dollar has held above the 50, 100, and 200 Simple Moving Averages during its recent dip, and momentum remains upbeat. All in all, bulls are in control.” 

“Resistance awaits at the daily high of 1.1845, followed by 1.1880, October's peak. The next levels above are 1.19 and 1.1920.” 

“Support awaits at 1.785, the daily low, followed by 1.1760, a stepping stone on the way up. Further down, 1.1720 and 1.1685 await EUR/USD.”