EUR/USD: Bulls in the lead

EUR/USD Wednesday's four-hour chart is pointing to gains. Yohay Elam, an analyst at FXStreet, studies the pair from a technical perspective.

Key quotes

“EUR/USD is trading above the 50, 100, and 200 Simple Moving Averages on the four-hour chart and momentum is positive. Overall, bulls are in the lead.”

“Initial resistance is at the daily high of 1.3060, followed by 1.1410, a veteran line.”

“Support is at 1.1275 seen on Tuesday. The early March high of 1.1215 is next.”