EUR/USD recently broke above the resistance level 1.3900 which is the first of the two buy targets that were set in our earlier report for this currency pair (1.3900 and 1.3970). The breakout of this buy target was preceded by the reversal from the support zone surrounding the support level 1.3800 (highlighted on the daily EUR/USD chart below).
The latest upward impulse wave 3 from this support zone broke the daily Triangle from March – which accelerated the upward movement. EUR/USD is set to rise further to the next buy target 1.3970 – followed by 1.4000.
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