After a significant bullish wave, the price line on EURUSD price line could finally break above its long-term descending channel. The price line is now completing a pullback to the top line of the mentioned channel. MACD histograms are turning green but RSI is showing the possibility for another retest of the top line of the channel. Buyers could expect a retest of the top line of the broken channel; there they can enter long position heading to the resistance level mentioned below.
• There is a resistance level at 1.06700 followed by resistance at 1.07200 and 1.0800.
• There is a support level at 1.05777. Below, there is 1.0500 and 1.03800.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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