EUR/USD continues to retrace upwards
EUR/USD is breaking through the $1.1750 resistance level as the market continues to regain ground in the wake of the recent declines.
This upside is likely to persist over the short term, with the price expected to push towards the 61.8% and 76.4% resistance zone in the near future. However, there is also a chance that we will see a wider retracement should the price manage to break above $1.1998. Until then, a short-term bullish outlook remains in play, with an hourly close above $1.1750 pointing towards a continuation of this morning’s strength.