EUR/USD Price Analysis: Bulls need quick progress above 1.1452

• EUR/USD failed to establish a foothold at four-month highs on Wednesday. 
• Another failure above 1.1450 could jeopardize the uptrend.

EUR/USD is currently trading at 1.1314, having clocked a four-month high of 1.1452 on Wednesday. 

The long upper wick on Wednesday’s candle shows rejection at higher levels (four-month highs) – a hint of waning bullish interest. 

If the pair again fails to clear the new-found ceiling, it would put the shared currency’s upside potential in doubt, causing some buyers to exit the market, leading to a pullback. 

Hence, quick progress above 1.1452 is needed to keep the pair on an upward trajectory. That would open the doors for a potential break above 1.15. 

Alternatively, another rejection at 1.1452 will likely yield a re-test of the ascending 10-day simple moving average (SMA), currently at 1.1452. 

Daily chart

Trend: Uptrend stalling

Technical levels