EUR/USD technical analysis: Euro grinds up approaching 1.1347 resistance

• EUR/USD is extending its gains now approaching 1.1347 resistance.
• Support is seen at 1.1306 and 1.1260 according to the Technical Confluences Indicator.

EUR/USD daily chart

EUR/USD is in a bear trend below its 200-day simple moving average (DSMA). However, the single currency has been rebounding for the third consecutive day.

EUR/USD 4-hour chart

The market is trading above its main SMAs suggesting bullish momentum. Bulls broke above 1.1320 resistance opening to doors to 1.1347 which is a strong resistance. If cleared 1.1400 can become the next pit stop for bulls, according to the Technical Confluences Indicator. 

EUR/USD 30-minute chart

EUR/USD is trading above its main SMAs suggesting a bullish bias in the near term. According to the Technical Confluences Indicator, there is mild support is at 1.1306 and strong support at 1.1260.

Additional key levels