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EUR/USD Price Analysis: Uptrend from May lows looks to have resumed

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  • EUR/USD's 4-hour chart shows descending triangle breakout. 
  • The rally from lows near 1.0750 seen in May has resumed. 

EUR/USD jumped 0.58% on Monday, confirming a descending triangle breakout on the 4-hour chart. 

The pattern indicates that the rally from lows near 1.0750 observed in May has resumed and the pair could soon challenge the June 10 high of 1.1422. 

Backing the bullish case is the 14-day relative strength index’s upside break of the descending trendline and the golden crossover of the 50- and 200-day simple moving averages confirmed last month. 

On the way higher, the pair may face some resistance at 1.1349 – the lower high created on June 23. 

On the downside, the June 19 low of 1.1168 is the level to beat for the sellers. 

4-hour chart

EUR/USD Price Analysis: Uptrend from May lows looks to have resumed

Trend: Bullish

Technical levels

EUR/USD

Overview
Today last price 1.1319
Today Daily Change 0.0010
Today Daily Change % 0.09
Today daily open 1.1309
Trends
Daily SMA20 1.1263
Daily SMA50 1.1088
Daily SMA100 1.1022
Daily SMA200 1.1044
Levels
Previous Daily High 1.1346
Previous Daily Low 1.1243
Previous Weekly High 1.1303
Previous Weekly Low 1.1185
Previous Monthly High 1.1422
Previous Monthly Low 1.1097
Daily Fibonacci 38.2% 1.1306
Daily Fibonacci 61.8% 1.1282
Daily Pivot Point S1 1.1253
Daily Pivot Point S2 1.1197
Daily Pivot Point S3 1.1151
Daily Pivot Point R1 1.1356
Daily Pivot Point R2 1.1402
Daily Pivot Point R3 1.1458
 

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