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EUR/USD breaking higher towards key resistance level
EUR/USD is breaking higher from a bullish falling wedge pattern, which retraced into the 61.8% Fibonacci level. We have a clear uptrend in play throughout March so far, yet with the $1.0829 level ahead, there is a major hurdle to overcome before we can say with confidence that this rally is set to continue.
As such, watch for a four-hour close above $1.0829, which would provide a strong continuation signal as we move into next week. Alternatively, a failure to break through $1.0829 could provide a clue that this resistance level is going to become a roadblock to further gains.