On Thursday, the EUR/USD pair rose by 80 pips, decisively surpassing the resistance level at 1.0458. This move has established the range of 1.0534 to 1.0575 as a primary target.
This range is considered strong initial resistance, where a market reversal could occur if a bearish divergence forms, potentially leading to a medium-term decline below 1.0135. Conversely, if EUR/USD manages to break above this range, the next significant resistance level would be at 1.0667.
On the four-hour chart, the price continues to rise above both indicator lines, with the Marlin oscillator firmly positioned in positive territory, reinforcing the potential for further price gains. Should EUR/USD fall back below 1.0458, it would not necessarily indicate a reversal; rather, it could signify a consolidation phase before another upward movement. A true reversal signal would require the price to drop below the MACD line and the recent low of 1.0401 recorded on Wednesday.
