Looking at the EUR/USD chart, we can see a rise from the 1.047 level on May 20 to the 1.0575 range on May 21, holding on to its territory and forming another leg up into the 1.065 range on May 24.
It managed to reach as high as 1.075 level on May 25 but soon after, it experienced a retraction back towards the 1.065, as it didn’t manage to consolidate at that level. Early today’s session, it climbed from 1.065 to 1.07 and was last found trading in the 1.066 range.
Today we could expect a move towards the 1.06 range, which acts as the closest temporary support level. If, however, it manages to hold on to the current range, then a move towards the 1.075 overhead resistance level can be expected.
