EUR/USD has been looking for a new direction after the Fed-fueled surge.
Markets will be digesting this week's policy shifts and euro-zone PMIs while watching Iran.
Friday's four-hour chart indicates further gains are on the cards.
EUR/USD has continued enjoying upside momentum on the four-hour chart and holds its ground above the 50, 100, and 200 Simple Moving Averages. Moreover, the Relative Strength Index has dropped below 70 – exiting overbought conditions – and adding to the bullish outlook.
Initial resistance awaits at the weekly high of 1.1320. The next cap is at 1.1348, which was the peak so far in June. The next levels are 1.1395 and 1.1445, which date back to March.
Support awaits at 1.1270, which was the post-Fed low seen on Thursday. Further down, 1.1245 held EUR/USD down earlier in the week, and 1.1180 was the weekly low.
