EURUSD: Join the purchase!

EUR/USD is hovering below 1.1200 in early Monday morning in Europe. The pair lacks fresh directional momentum, awaiting flash German CPI data and Fed Chair Powell’s speech. More stimulus efforts from China help keep risk sentiment sweeter amid Middle East risks.

Given the current market conditions, it looks like EUR/USD will continue its larger uptrend, as the chart shows.

The first resistance zone to watch is 1.1200, followed by the upper channel resistance around 1.1240