The euro weakened against the US dollar last week. However, the broader technical bullish EUR.USD remains in place. This is because on the daily chart below, EUR.USD has fallen to a short-term rising support line since the end of June. The last one was held last week, keeping the upward slope. A bounce off support draws attention to the 38.2% Fibonacci extension level at 1.1231.
A break above this point exposes the February 2022 highs, forming a resistance zone between 1.1453 and 1.1495. In case of a downward reversal, the next key support appears to be at...
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