EUR/USD rallies up to major resistance level
EUR/USD has largely confounded the notion of a bearish turnaround, with the price breaking through $1.1687 and towards $1.1836. The ability to break through that high will go a long way in proving that this market is going to break out of the downtrend seen in recent months.
This would also negate the bearish head and shoulders formation. As such, watch out for how the pair reacts around this area, with $1.1836 providing the pivotal area, where the ability or inability to break through it will provide the bias for the day.