EUR/USD Is Testing 1.1860 Again

Despite the shooting star candlestick on the daily time-frame at 1.1860 the move to the downside did not last long and EUR/USD bounced off from the support at 1.1710 after forming a spinning top candlestick at that level on the daily time-frame again. Currently the pair is testing the aforementioned resistance at 1.1860 once more. If there is a breakout above that level – and it is quite likely there will be one – the pair will probably continue rallying towards the next resistance level, which is around 1.2035. A breakout above that resistance could lead to a test of the last high at 1.2092 which also coincides with the (MA)89 indicator on the monthly time-frame.