EUR/USD: technical analysis
The EUR/USD pair finally broke all barriers and moved higher last week. After Friday's rally, the price falls into a consolidation below firm resistance level at 1.1214. At the same time, the 1.1145 – 1.1033 levels continues to be supportive, so the market may try to reach them. Afterwards, the price will probably reach the 1.1245 - 1.1305 levels.
In a one-hour perspective, the pair changes ranged between the resistance level at 1.1215 and the 50 Simple Moving Average (SMA). The price has formed a "V" top pattern. In the short-term we can expect a downward movement to the support level at 1.1085, but then I expect the market to continue growing towards a range between the support levels 1.1245 - 1.1305.