FX.co ★ EURUSD challenges important short-term resistance at 1.1030 and could see 1.1130 soon.

EURUSD has moved above 1.10 and is challenging as expected the important 1.1030 resistance level. As long as price is above 1.10 we expect price to continue higher towards 1.11-1.1130.

Black lines- bullish wedge pattern

Red line - bullish divergence

EURUSD is bouncing off the lower wedge boundary. The upper wedge boundary and possible target is at 1.1130. Short-term trend is bullish as long as price is above 1.0965 but longer-term trend remains bearish as long as price is inside the wedge.