The euro rallies ahead of an aggressive hike by the ECB. A surge above the daily resistance at 0.8580 may have turned sentiment around after a two-month long correction. 0.8680 at the start of the July sell-off is a major supply area. A bullish breakout may lift offers to the daily resistance at 0.8720. As a bearish RSI divergence shows a loss of momentum in the rally, the pair could be subject to profit-taking and renewed selling pressures. 0.8570 at the base of the latest breakout is the first support in case of a pullback.
