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The EUR/USD pair has shown impressive strength recently, extending its upward move from the 1.0665 low to reach a high of 1.0816. This bullish momentum suggests further gains may be on the horizon.

Short-Term Outlook
 

After a brief consolidation period, we could see the pair continue its rally in the coming days. Here are the key levels to watch:

1. Next target: 1.0850 area
2. If 1.0850 breaks: Watch for a push towards the 1.0915 resistance

Support Levels to Monitor
 

While the trend remains bullish, it’s important to keep an eye on potential support levels:

1. Initial support: 1.0775
2. If 1.0775 breaks: Look for a test of the rising trendline visible on the 4-hour chart

Potential Bearish Scenario
 

The bullish outlook would only be invalidated if:

1. The price breaks below the rising trendline support
2. This would signal the end of the upward move from 1.0665
3. In this case, we could see a decline back towards the 1.0665 support level

Key Takeaways
 

• The EUR/USD pair is showing strong bullish momentum
• Watch for a potential push towards 1.0850 and possibly 1.0915
• Keep an eye on the 1.0775 support and the rising trendline
• A break below the trendline could signal a trend reversal

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