EUR/USD Eyes Fibonacci Resistance After MACD Bullish Cross
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EUR/USD has produced a bullish MACD crossover on the four-hour chart, a signal that typically precedes short-term upside continuation when paired with rising volume. Price action is now approaching a Fibonacci resistance cluster derived from the recent swing high.
The pair's RSI remains below overbought thresholds, leaving technical room for further gains before momentum exhaustion becomes a concern. A clean breakout above resistance would likely trigger stop-driven buying from short positions.
Failure to clear this zone, however, risks a pullback toward the nearest support shelf, keeping the pair within its established consolidation channel for the sessions ahead.