The EUR/USD pair has recently revisited levels around 0.9600, which were last seen in 2002, resulting in a significant bullish recovery, particularly around this crucial support level.
Despite the nearest supply level at 1.0100 not exerting sufficient bearish pressure, there was intensive bullish price action observed around the lower boundary of the depicted movement channel. This led to the achievement of successive bullish targets at 1.0250, 1.0500, and 1.0600.
Furthermore, the 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 a possibility of further bullish advancement towards the nearest supply zone around 1.1150-1.1200. On the other hand, any bearish pullback towards the price levels of 1.0000 should be viewed as a valid long-term buying opportunity.
