EURUSD Daily Analysis – May 4, 2020

EURUSD extended its upside movement from 1.0727 to as high as 1.1018, breaking above 1.0990 resistance. As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.1100 area. Near term support is at 1.0930, a breakdown below this level could bring the price back towards the trend line.

EURUSD 4-hour chart