EUR/USD: Bulls have the upper hand

EUR/USD Monday's four-hour chart is relatively upbeat for the bulls, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“The EUR/USD pair still enjoys upside, albeit waning, momentum on the four-hour chart and trades above the 50, 100, and 200 Simple Moving Averages. The Relative Strength Index is below 70, thus outside overbought conditions.” 

Resistance awaits at 1.0970, which was a swing high last week, followed by 1.0995, the April high.

“Looking down, 1.0890 used to be fierce resistance and now serves as support. It is followed by 1.0860, a stepping stone on the way up.”