EUR/USD rallying from key support level
EUR/USD is moving higher this morning, with the $1.0855 support level holding once more overnight. We are trading within a descending triangle formation over the past week, coming off the back of a sharp rally in response to the French election result. The pair is expected to gain further ground in the near future, but we need to ascertain whether we are going to retrace some of that major weekend gap or not.
As such, look out for an hourly close below $1.0855 for a bearish short-term view, whereas an hourly close above $1.0933 would point towards another leg higher for EUR/USD.