EUR/USD: Next leg higher to face first hurdle at 1.1315

Tuesday's four-hour chart is pointing to further gains for the common currency, which faces next resistance at the 1.1315 daily high, Yohay Elam, an analyst at FXStreet, reports.

Key quotes

“EUR/USD continues trading above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart, while momentum remains positive. The Relative Strength Index is below 70, outside overbought conditions.” 

“Resistance is at the daily high of 1.1315, followed by 1.1360, an initial peak on the way up, and then by 1.1384.”

“Some support awaits at the daily low of 1.1275, followed by 1.12, a round level which also separated ranges last week.”