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Forex

EUR/USD Bulls Face Crucial Barrier as Pair Trades Above Bearish Trend Line

Guavy AI Editorial Team
Instruments
EUR USD
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The EUR/USD pair has started to rise after testing support at 1.1565 against the US Dollar, and it is now trading above a bearish trend line with resistance at 1.1605 on the 4-hour chart.

This move above the trend line suggests that the bulls are gaining strength, but there is still a crucial barrier to clear before they can make further gains.

The pair has also surpassed the 100 simple moving average (red, 4-hour), and it remains well above the 200 simple moving average (green, 4-hour).

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