Will EUR/USD bounce once more?
EUR/USD has been drifting lower overnight, with price largely moving sideways.
However, we have since seen a bullish trendline break and with price breaking through the 10,947 resistance, there is a good chance that price could rise from here.
With that in mind, a bullish view is returning into play, to continue the new highs and higher lows instigated by the European Central Bank last week. Resistance levels of $1.0962, $1.0981 and $1.1042 will be key to any upside.
Meanwhile, a closed candle below $1.0925 would point towards further losses for the pair.