– EURUSD broke the resistance zone
– Likely to rise to resistance level 1.0900
EURUSD currency pair recently broke the resistance zone between the resistance level 1.0625 (former monthly high from December), 61.8% Fibonacci correction of the downward impulse from November and the resistance trendline of the daily up channel from January.
The breakup of this resistance zone accelerated the active impulse wave C of the medium-term ABC correction B from January.
Given the strongly bearish US dollar sentiment, EURUSD can be expected to rise toward the next resistance level 1.0900, the target price for the completion of the active impulse wave C.
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