Technical analysis
The EURUSD pair could still trade much higher as the Relative Strength Index indicator is issuing a buy signal and a bullish wedge break remains in play.
The daily time frame still shows that significant amount of bullish price divergence are present on the MACD indicator until the 1.1975 level.
What the possible outcomes are
In our most likely scenario, the EURUSD pair will start to trade back towards its 200-day moving average and reverse the bullish price divergence.
Alternatively, the EURUSD pair will stage one final corrective pullback towards the 1.1810 support area and then start to rally towards its 200-day moving average.
Key levels
Support 1.1845 1.1810
Resistance 1.1900 1.1975
