FX.co ★ EURUSD, H4 | Breakout Bullish Channel Line?

The EUR/USD chart currently displays a bullish trend within an ascending channel, indicating a possible continuation of the uptrend. In the event that the bullish momentum persists, price may experience a potential break above the 1st resistance level and move towards the 2nd resistance level.

There are two strong support levels to consider. The 1st support level at 1.0910, which is an overlap support, coinciding with the 61.80% Fibonacci retracement level. The 2nd support level at 1.0831, which is a swing low support.

The 1st resistance level at 1.0976 is a key level to watch, as it is an overlap resistance and also coincides with the 38.20% Fibonacci retracement level. The 2nd resistance level at 1.1071 is a significant swing high resistance level that has been tested multiple times in the past, making it a strong resistance zone for price.