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EUR/USD rallies into Fibonacci resistance
EUR/USD has gained ground overnight, with price rallying into the 76.4% retracement at $1.0712. From a wider perspective, we have got a clear uptrend, with the creation of higher highs and higher lows in place until we see a break below the $1.0579-$1.0589 support zone.
There is a good chance that this will persist, with a break above $1.0740 providing the bullish signal. However, until we see $1.0740 broken, there is also a good chance we will see another sell-off in the short-term, with trendline resistance up ahead.
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