Stronger than expected manufacturing data suggests the Fed may hold rates higher for longer.
EUR/USD is currently testing a key resistance level at 1.0850. The pair is trading within an ascending channel on the 4H timeframe. RSI indicates slightly overbought conditions, suggesting a potential short-term pullback before continuation.
Breakout & Retest
Break above 1.0850 targeting 1.0890.
Rejection at Resistance
Reversal at 1.0850 targeting 1.0780.