EUR/USD currency pair is still consolidating inside the congestion zone 1.4040 - 1.4500.
Now the pair is testing the upper limit of the bearish channel on the daily chart at 1.4475 suggesting a rebound as long as the pair is trading below 1.4480.
It's important to note that we had a bearish engulfing pattern before at level 1.4530 which will act as a strong resistance.
The full body bullish daily candlestick (at 61.8% Fibonacci level of the last swing up) is enhancing the bullish view.
We have a bullish channel on 4H chart which provided a good support for the pair at its lower limt.
Now the price is testing its upper limit suggesting a rebound as long as the pair is trading below 1.4480.
Bounce of this level will target 1.4320 - 1.4290 which may be a good LONG entry with SL 4H closure below 1.4140.
