EUR/USD approaches crucial resistance level
EUR/USD has been gaining ground overnight, with the pair approaching the key $1.2288 resistance level. The ability to break through that level will be crucial in determining whether the wider bullish outlook will come back into play.
This would seem likely before long, with the recent descent looking like a retracement of the previous gains. As long as the price remains below $1.2288, there is still a chance it will start to turn lower again. With that in mind, keep an eye out for whether we can break through near-term resistance, as a guide on where we go from here.