EUR/USD: Uptrend Strengthens With New Targets In Sight

EUR/USD has broken above the 1.1173 resistance level, extending its upward move from 1.0881 to reach as high as 1.1201.

What’s Next?

• Continued Uptrend:
  • As long as the pair remains within the rising price channel on the 4-hour chart, the uptrend is likely to continue.
  • The next targets are around the 1.1300 area, with a potential move toward 1.1450.
• Support Levels to Watch:
  • Initial support is at 1.1160.
  • A break below this level could push the price back towards the bottom of the channel.
  • If the price falls below the channel support, it could target the key support at 1.1097.
  • A break below 1.1097 would indicate the completion of the uptrend that began at 1.0881.

Conclusion

EUR/USD is gaining momentum, with potential upside targets at 1.1300 and 1.1450. However, traders should keep an eye on the 1.1160 and 1.1097 support levels, as a break below these could signal a shift in the trend. For now, the uptrend remains strong as long as the price stays within the rising channel.

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