FX.co ★ EUR/USD analysis for June 21, 2022 - Breakout of consolidation and potential for bigger rally

Technical analysis:

EUR/USD has been trading upside today and there is the breakout of contraction and rejection of the rising trend-line, which is sign for the further rise.

Trading recommendation:

Due to the breakout of the consolidation and strong upside momentum this morning, I see potential for further rise.

Watch for potential buying opportunities on the intraday dips with the upside objectives at 1.0640 and 1.0760.

MACD is showing fresh momentum to the upside, which is good sign for further rally.

Key support is set at the price of 1.0450