EUR/USD traded tightly above 1.0700 at the beginning of the European trading session on Friday. The US dollar struggled to gather strength ahead of crucial Personal Consumption Expenditures (PCE) Index data, the Federal Reserve's preferred measure of inflation, helping the currency pair maintain its stance.
The 4-hour chart indicates that the upward trend remains intact. Initial resistance levels are at 1.0740, followed by 1.0756, and finally 1.0787. The Relative Strength Index (RSI) has surpassed the 60 level, indicating that the strength of the upward trend is being supported and may continue in the near future.
The 4-hour chart indicates that the upward trend remains intact. Initial resistance levels are at 1.0740, followed by 1.0756, and finally 1.0787. The Relative Strength Index (RSI) has surpassed the 60 level, indicating that the strength of the upward trend is being supported and may continue in the near future.
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