In the intermediate-term, the EUR/USD pair has recently visited the price levels around 0.9600 that were last seen in 2002.
As a result, some bullish recovery has been witnessed, particularly around this psychologically significant support level.
The nearest supply level at 1.0100 failed to exert enough bearish pressure, while intensive bullish price action was observed around the lower limit of the depicted movement channel.
This led to the achievement of successive bullish targets around 1.0150 and 1.0500.
Price action around the key level of 1.0550-1.0600 was also bullish, resulting in further bullish continuation towards 1.0800.
Moreover, there is potential for more bullish advancement towards the nearest supply zone around 1.1150-1.1200.
Conversely, any bearish pullback towards the price levels of 1.0000 should be considered a valid long-term buying opportunity.
