EURUSD broke above 1.0689 resistance

EURUSD broke above 1.0689 resistance, indicating that the downward movement from 1.0905 had completed at 1.0569 already. The pair is now in uptrend, further rise could be expected over the next several days, and next target would be at 1.0800 area. Near term support is at 1.0675, as long as this level holds, the uptrend will continue. Key support is located at the ascending trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

EURUSD chart

By ForexCycle.com