EUR/USD Price Analysis: Rises toward 1.1000 ahead of three-month highs

• 
  EUR/USD
  may
  extend
  its
  upside
  as
  the
  daily
  chart
  analysis
  shows
  a
  bullish
  inclination.
• 
  The
  pair
  may
  face
  a
  potential
  resistance
  near
  a
  three-month
  high
  at
  1.0915.
• 
  The
  lower
  boundary
  of
  the
  ascending
  channel
  around
  1.0830
  level
  could
  act
  as
  immediate
  support.

EUR/USD
continues
its
winning
streak
for
the
third
successive
day,
trading
around
1.0870
during
the
Asian
hours
on
Friday.

The
EUR/USD
pair
found
support
as
the
US
Dollar
(USD)
weakened
following
softer-than-expected
US
Consumer
Price
Index
(CPI)
data
in
June.
This
has
increased
expectations
of
a
potential

Federal
Reserve
(Fed)
rate
cut
in
September.

The
technical
analysis
of
the
daily
chart
shows
a
bullish
inclination,
with
the
pair
moving
within
an
ascending
channel.
Furthermore,
the
14-day
Relative
Strength
Index
(RSI),
a
momentum
indicator,
is
above
the
level
of
50,
confirming
the
bullish
trend
for
the
EUR/USD
pair.
Continued
upward
movement
could
reinforce
the
pair’s
bullish
bias.

The
EUR/USD
pair
faces
potential
resistance
near
a
three-month
high
at
1.0915.
Further
barrier
appears
around
the
upper
boundary
of
the
ascending
channel
around
1.0960.
A
breakthrough
above
this
level
could
lead
the
pair
to
explore
the
region
around
the
psychological
level
of
1.1000.

On
the
downside,
initial
support
for
EUR/USD
lies
near
the
lower
boundary
of
the
ascending
channel
around
the
1.0830
level,
followed
by
the
nine-day
Exponential
Moving
Average
(EMA)
at
the
level
of
1.0822.

A
breach
below
the
latter
might
increase
downward
pressure,
targeting
support
around
the
key
level
of
1.0670,
potentially
serving
as
a
rebound
support
level.

EUR/USD:
Daily
Chart