On Wednesday, the EUR / USD currency pair tested the upper limit for the short-term rising channel. During today’s morning, the pair tested the bottom channel line near 1.0800.
From a theoretical point of view, a reversal north is likely to occur in the near future and the exchange rate may target the upper channel line near 1.0885.
Note that the speed will have to exceed the resistance cluster formed by 55-, 100- and 200-hour SMAs, as well as the weekly PP in the range 1.0830 / 1.0862. If the given resistance holds, it is likely that the pair can act along the lower channel line