EUR/USD: Support and resistance lines are rising

EUR/USD is trading within a narrowing uptrend triangle. Both support and resistance lines are rising, FXStreet’s analyst Yohay Elam briefs.

Key quotes

“The EUR/USD pair is trading above the 50 and 100 Simple Moving Averages on the four-hour chart but below the 200 SMA. Momentum is marginal to the upside.”

“Resistance is at Monday's high of 1.0970. It is followed by 1.1110, which is where the 200 SMA hits the price.”

“1.0930 remains a battleline after holding the pair down in early April and serving as support in late March.”