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EUR/USD Trading Higher - Key Resistance at 1.3820

The EUR/USD was bullish on the 4/7 Monday session after it broke above the 4/4 Friday session range. 


(eurusd 4h chart 4/8)

During early 4/8 European session, the eurusd market made another bullish run, this time pushing toward a projected falling resistance seen in the 4H chart. 

Also note the 4H stochastic is above 80, showing it is near-term overbought. The 4H RSI is just pushing above 60, which shows it is just above to kill the bearish momentum it has gathered during the second half of March.

The GBP/USD is more advanced in its bullish continuation development. In fact, the EUR/USD still has key resistance at 1.3820, where it might challenge a falling resistance as well. Until that is broken, and the 4H RSI pushes above 70, the bearish outlook since the 1.3966 March high remains intact.