EUR/USD back up to key resistance
The pair has rallied back up to the 1.1334 resistance level, following continued gains to start this week. The medium-term picture has remained bullish and now the short-term picture is too. However, this major resistance level needs to be taken out first.
Given that this 1.1334 level represents not only a reliable recent support level, but also the location of the 50 and 100 day simple moving average (SMA) resting on it, there will likely be some indecision around here.
However, further gains seem likely, with a closed hourly below 1.1300 negating the short-term picture. A closed hourly candle below 1.1059 would negate the bullish medium term picture.