EUR/USD is trading within a striking distance of 1.1345 – resistance of the trendline sloping downwards from the Jan. 31 and Feb. 2 highs.
4-hour chart
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As seen above, the pair has charted a bullish divergence of the relative strength index (RSI). Further, 5- and 10-candle moving averages (MAs) have produced a bullish crossover.
The pair, therefore, could beat the trendline hurdle, currently 1.1345. That would only bolster the bullish setup and boost the odds of the pair confirming a short-term bullish reversal with a daily close above 1.1340 (the previous day’s high).
Trend: bullish above trendline
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