EURUSD has recently broken above the resistance level at 1.0972, suggesting that the downside move from 1.1139 has completed at 1.0876. This breakout indicates a potential for another rise in the coming days.
If the price manages to break above the 1.0998 resistance level, it could lead to further upside movement towards the next resistance level at around 1.1065. The previous high at 1.1139 would be the subsequent target.
On the downside, the immediate support level is located at 1.0876. A break below this level could trigger a further downside move towards the bottom of the rising price channel on the 4-hour chart.
