EURUSD moves past the 1.1910 and 1.20 resistance levels that we discussed in our earlier post. Now it’s testing the 100-day moving average. If EURUSD can break this average as well, the price may continue its surge to near 1.22. But prices don’t move in a straight line more like moving in waves. It is important for traders to manage their risks by setting stops and analyzing key support zones.
Key support zones for EURUSD are 1.1970-1.1985 for the short-term and 1.1875-1.1910 for the medium-term. These zones were the most of the volume is happened and most time is consumed while moving up from the 1.17.