EUR/USD Technical Analysis: EUR/USD skyroketing above 1.1750 key July resistance as USD crashes across the board

• With this Thursday’s bull move the EUR/USD main bear trend is slowly switching to bullish as the bulls are breaking above 1.1750 and the 100-day simple moving average.
• EUR/USD main objective is to keep the market above the 1.1750 July resistance in order to reach 1.1800 figure and 1.1853 June 14 high.
• EUR/USD is trading above its 50, 100 and 200-period simple moving average while the RSI, MACD and Stochastics are in bull mode, indicating that the bull trend is here to stay.

EUR/USD 4-hour chart

Spot rate:             1.1768
Relative change:   0.83%  
High:                    1.1770
Low:                     1.1668

Main trend:                    Bullish

Resistance 1:   1.1750 key resistance (July)
Resistance 2:   1.1800 figure
Resistance 3:   1.1853 June 14 high

Support 1:   1.1722 last week high
Support 2:   1.1654 August 27 high
Support 3:   1.1630 August 8 high key level
Support 4:   1.1600 figure
Support 5:   1.1572 July 19 low
Support 6:   1.1542 supply/demand level
Support 7:   1.1530 August 23 swing low
Support 8:   1.1508 June 8 low