The EUR/USD tests its 200 EMA on the 4 hour chart

The EUR/USD rallies for today and breaks the 1.2800 to the upside to test the 200 Exponential Moving Average on the 4 hour chart around the 1.2815 level. On the same chart we can see that this moving average has been a good resistance zone in the past and it looks like the price is stalling at this area one more time. We can also see that the price has formed a Symmetrical Triangle, which is a chart pattern with implications of a breakout in any direction. Therefore, we must be attentive to a possible breakout of the formation, because volatility may rise on the pair. The next resistance would be the 1.2900 level and its next support would be the 1.2700 level followed by the 1.2600.