- EUR/USD is trading 0.17% higher today at 1.1032.
- The chart is showing signs it could break higher.
EUR/USD 1 Hour Chart
On the hourly chart below the next resistance is at 1.1040.
The resistance higher up is the main one and that holds at 1.1072.
The reason why this one is more important is that on the higher timeframe it is the main wave the price had to make to make the lower low lower high formation.
Now currently on the 1-hour chart, the price is still making lower highs and lower lows but if 1.1041 brakes EUR/USD could break the pattern.
As with most trendline breaks if the move does happen then the trendline itself could be a support zone.
At the start of the week the USD strength as abated somewhat. At the end of last week the dollar was very strong and today the US markets are expected to be slower due to veterans day.
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