EUR/USD technical outlook: Historical patterns signal potential bounce extension

EUR/USD technical analysis suggests the pair may extend its recent bounce based on historical price patterns and key technical levels. The pair has shown resilience after testing major support zones, with momentum indicators pointing to potential upside continuation. Historical data reveals similar bounce patterns have led to sustained recoveries in 70% of cases over the past five years. The analysis also covers GBP/USD showing consolidation patterns, USD/JPY maintaining bearish momentum after failing at the 200-day moving average, and AUD/USD displaying mixed signals. Key resistance for EUR/USD sits at 1.1150, coinciding with the 100-day moving average, while support holds at 1.1050. A break above resistance could target 1.1200 psychological level. Traders should watch for confirmation through increased volume and positive momentum oscillator readings before positioning for extended gains.