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EUR/USD rallies into crucial resistance level
EUR/USD has rallied into the $1.1721-$1.1727 resistance zone this morning, following a week of upside for the pair. This is a major region of resistance, which will determine the bias for the short term.
With the top of a rising wedge also joining this confluence of resistance, there is reason to believe that we could be looking at the beginning of a sell-off from here. As such, a bullish picture would only come with a rally and close above $1.1727. Until then, there is a chance we could see some weakness come into play.