On the hourly chart of EUR/USD at FXOpen, the pair started a strong increase from the 1.0785 level. The Euro was able to clear the 1.0860 resistance against the US Dollar.
The bulls were able to push the pair above the 50-hour simple moving average and 1.0900. It is now consolidating gains below the 1.0950 resistance zone. The next major resistance is near the 1.0965 zone.
A break above the 1.0965 resistance zone could send EUR/USD toward the 1.1000 zone. A close above the 1.1000 level might send the pair further higher toward the 1.1050 resistance.
Conversely, the pair might start a downside correction toward 1.0915. The next major support is near a connecting bullish trend line at 1.0860, below which EUR/USD could test the 1.0785 support. Any more losses could send the pair to 1.0740.
