EURUSD, H4 Technical Outlook:

We're seeing strong bullish momentum on EURUSD - our chart in focus is on the H4 timeframe. There's a strong ascending support line that stretches all the way back to 31st March 2021 - this gives price the bullish momentum to potentially continue rising.

Coupled with a strong overlap support area at the 1.2177 area along with a 38% fibonacci retracement, EURUSD looks poised to potentially make a small bounce from here.

Upside is rather capped at 1.2243 where a big swing high resistance from 25th Feb 2021 has held price below it with recent tests failing to break that level.

A bounce from here could see price test that 1.2243 level once again.

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