Bulls regain traction and pressure near-tern range ceiling

The Euro bounced on Monday and reversed the most of Friday’s drop, as fresh advance is pressuring the upper boundary of the range that extends into fifth straight day.
The single currency remains well supported by expectations that bloc’s post-pandemic economic recovery is accelerating, but positive sentiment was tempered by comments from ECB President Lagarde who signaled that no changes in central ban’s current policy setup could be expected in the near future.
Daily chart shows an uptrend from 1.1704 (Mar 31 low) intact that keeps focus shifted to the upside, with moving averages in full bullish configuration and rising positive momentum supporting bullish scenario.
Eventual break above near-term range would generate initial bullish signal which would inflate bulls for final push towards 2021 high at 1.2349(posted on Jan 6) to mark an end of 1.2349/1.1704 corrective phase and signal continuation of larger uptrend from 1.0635 (Mar 2020 low).
Rising 10 DMA (1.2161) marks significant support which guards bull trendline from 1.1704 (currently at 1.2137).
Only break here would sideline bulls and signal deeper correction.

Res: 1.2244; 1.2284; 1.2300; 1.2349
Sup: 1.2161; 1.2137; 1.2120; 1.2102