EUR/USD Pair Faces Resistance at 1.0740, Potential Uptrend Ahead

The currency pair, which failed to hold above the 1.0740 resistance level on Friday, initiated an uptrend with a rebound from the 1.0670-1.0675 range. Given the upcoming release of European inflation data and the busy schedule of economic indicators for the rest of the week, a volatile week is expected. The first resistance lies at Friday's high in the 1.0753-1.0760 area. A break above this level could push the price towards the 1.0800-1.0810 range, followed by another resistance zone at 1.0870. Meanwhile, the importance of the 1.0670-1.0675 range remains intact and a break of this level could lead to a pullback towards the 1.0610-1.0600 range. In case of a break, the pair could fall further towards the 1.0560-1.0550 range.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.0870	1.0810	1.0760	1.0670	1.0600	1.0560