Aside from a brief spike in April, EUR/USD has remained below 1.1500 for over three years.
Sellers again have had to defend the zone following the weaker-than-expected US CPI release. The main resistance zone potentially spans all the way up to 1.1573 (the April high).
Some indicators suggest potential room for further upside. The Relative Strength Index (RSI) has not yet reached overbought territory, and the Daily Moving Average is positively sloped. A break below the 4-hour Moving Average could trigger more selling pressure and a potential correction.
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