EUR/USD Tests Key Resistance Above 50% Fib Retracement
The EUR/USD pair is trading above the 50% Fibonacci retracement level on the 4-hour chart and is attempting to break above a major bearish trend line.
EURUSD
On the 4-hour chart, EUR/USD has moved above the 50% Fibonacci retracement level of the decline from the 1.1685 swing high to the 1.1499 swing low.
The pair is now attempting to close above a significant bearish trend line that has acted as resistance. A successful break could open the door for further upside, while failure may lead to a pullback.
Source: FXStreet Forex News