Euro’s bullish break from falling channel would see it test confluence of resistance at 1.12 (falling trend line level on hourly + rising trend line on daily + psychological figure).
positive rsi divergence noted on hourly chart indicates increased odds of the pair testing 1.12 handle.
If accepted above the same, bulls could target another strong hurdle around 1.1260.
On the other hand, a failure to take out 1.12 followed by a drop below 1.1173 would be a strong sell signal.
Ovreall, bullish invalidation is seen only below 200-DMA
positive rsi divergence noted on hourly chart indicates increased odds of the pair testing 1.12 handle.
If accepted above the same, bulls could target another strong hurdle around 1.1260.
On the other hand, a failure to take out 1.12 followed by a drop below 1.1173 would be a strong sell signal.
Ovreall, bullish invalidation is seen only below 200-DMA