EUR/USD Is Testing the Resistance at 0.7790

Since EUR/USD bounced off the resistance at 0.7930 the pair reached the support at 0.7700 and after several days of consolidation it formed an inverted hammer and a doji candlestick on the daily time-frame and started climbing again. Currently it is testing the resistance at 0.7790 and considering that the bullish trend is still valid, I would say that a breakout above that level would be a signal that it will continue climbing towards the previous high at 0.7930. A breakout above that level in turn will be a signal for a further move to the upside towards 0.8070.