EURUSD closed back above 1.09 resistance. RSI closed back above 60 threshold meaning now back showing positive sentiment indicating likely higher EURUSD levels.
Similar to during the May sell-off that bounced from the 0.786 retracement at 1.0640 expect a correction from the 0.786 at 1.0997.
However, if EURUSD closes above the Cloud, and RSI is still above 60 showing positive sentiment, EURUSD is likely to test April peak around 1.1095.
Weekly RSI is indicating higher EURUSD level above April peak and a move to around the 200 weekly Moving Average and resistance at around 1.1180 should be expected.
However, a spike up to the 0.618 retracement and 1.382 projection of the June correction at around 1.1270 should not be ruled out.
For EURUSD to reverse this bullish a close below 1.0630 is needed.