EURUSD Daily Analysis – February 27, 2020

EURUSD broke above the resistance of the falling price channel on the 4-hour chart, suggesting that the downside movement from 1.1239 (Dec 31, 2019 high) had completed at 1.0778 already. Further rally would likely be seen and next target would be at 1.0950 area. Near term support is at 1.0850, below this level could trigger another fall towards 1.0700.

EURUSD 4-hour chart