Sustained Uptrend, Could New Resistance Be Reached?

2 days agoThe EUR/USD chart is currently showing some positive short-term action, with the price recovering from recent support and approaching a previously identified key resistance zone. Specifically, the chart shows the price trading around 1.11042, with a slight bullish trend from the lower support. This recovery includes a series of green candles, indicating that buyers are stepping in strongly.

From a technical perspective, EUR/USD appears to be forming a short-term uptrend, with the potential to reach around 1.11500 in the coming sessions if the current trend continues. However, traders should be aware of the possibility that the price will face resistance at this level, which could lead to a correction before a breakout.