• EURUSD broke key resistance level 1.1965
• Likely to rise to resistance level 1.2100
EURUSD recently broke above the key resistance level 1.1965 (which stopped the previous minor corrections (a) and 4 at the start of April) – intersecting with the 38.2% Fibonacci correction of the previous sharp downward ABC correction from the start of this year. The breakout of the resistance level 1.1965 accelerated the active minor impulse wave 1.
Given the strongly bearish sentiment affecting the US dollar today – EURUSD currency pair can be expected to rise further toward the next resistance level 1.2100 (top of the previous minor correction 2 from the start of March).