EUR/USD to target 2018 April high at 1.2413

The EUR/USD pair hit 1.2310 this Wednesday, its highest level since April 2018, after finding buyers around 1.2250. Market players are eyeing 1.2413, April 2018´s monthly high, FXStreet’s Chief Analyst Valeria Bednarik reports.

Key quotes

“The bullish case is strong, supported by intraday technical readings. The 4-hour chart shows that technical indicators have corrected overbought conditions before resuming their advances, as the pair develops above bullish moving averages.” 

“A critical resistance and possible bullish target is 1.2413, April 2018´s monthly high.”