EURUSD has broken above resistance at around 1.0635shooting up to just below 1.07. The 55 daily Moving Average (blue declining line) is providing resistance around that level.
RSI is key for further upside in ERUUSD; will it break and close above the 60 threshold or be rejected. First attempt has been rejected.
A close above is likely to push EURUSD higher to the strong resistance and 0.618 retracement at around 1.0765
If EURUSD is failing to break above 1.07 and RSI failing to close above 60, EURUSD is likely to slide back lower.
If RSI is closing below its lower rising trendline (dashed line) we are likely to see EURUSD testing previous lows below 1.05