On the hourly chart of EUR/USD at FXOpen, the pair started a decent recovery wave from the 1.0640 level. The Euro was able to clear the 1.0670 resistance against the US Dollar.
There was a successful break above a key bearish trend line with resistance at 1.0710. The pair is now trading well above the 50-hour simple moving average. The first major resistance is near the 1.0765 zone.
A break above the 1.0765 resistance zone could send EUR/USD toward the 1.0790 zone. A close above the 1.0790 level might spark a bullish wave toward the 1.0830 resistance.
Conversely, the pair might start a downside correction toward the 1.0740 support. The next major support is near the 1.0710 level, below which EUR/USD could test the 1.0670 support. Any more losses could set the pace for a retest of 1.0640.
