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29.11.2023 11:22 PM
The EUR/USD pair dropped a little in the short term and now is located at 1.0973 at the time of writing. Still, the retreat could be only a temporary one before trying to jump higher. As you can see on the H1 chart, the rate failed to reach and retest the uptrend line lately which confirmed strong upside pressure (buying pressure).
Jumping above the former high of 1.0963 announced an upside continuation. It has climbed as much as 1.1007. Technically, this represents an upside obstacle.
Staying above 1.0972 and jumping beyond 1.1007 former high activates further growth. This is seen as a new buying opportunity.
Dropping below 1.0972 may announce a potential drop towards the uptrend line.
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