Oanda analyst Kelvin Wong said in a report that judging from the chart, EUR/USD may have started an upward trend that continued for several months. The senior market analyst said that Europe and the US experienced a strong rebound last Friday, and both the daily closing price and the weekly closing price were higher than the upper boundary of the long-term downward channel. Furthermore, the analyst said that the recent sharp rebound in Europe and the US occurred after failing to break below the 200-day moving average on March 27, which heralds a major bullish breakthrough. The analyst added that the medium-term resistance level is set at the 1.1715-1.1755 zone and 1.1910 level.

Oanda analyst Kelvin Wong said in a report that judging from the chart, EUR/USD may have started an upward trend that continued for several months. The senior market analyst said that Europe and the US experienced a strong rebound last Friday, and both the daily closing price and the weekly closing price were higher than the upper boundary of the long-term downward channel. Furthermore, the analyst said that the recent sharp rebound in Europe and the US occurred after failing to break below the 200-day moving average on March 27, which heralds a major bullish breakthrough. The analyst added that the medium-term resistance level is set at the 1.1715-1.1755 zone and 1.1910 level.