EURUSD is trading above a rising trend line with its higher lows since late March. The pair looks ready for another pullback to this support level, which lines up with Fibonacci retracement levels.

Price already seems to be finding buyers at the 38.2% Fib near the 1.1000 handle, possibly setting its sights back on the swing high at 1.1076. A larger correction could reach the 50% Fib at 1.0956 or the 61.8% level closer to the trend line at 1.0928.

The 100 SMA is above the 200 SMA to indicate that the path of least resistance is to the upside or that the uptrend is more likely to resume than to reverse. The 200 SMA is also near the 50% and 61.8% Fib levels to add to their strength as support.

Stochastic is on the move up to reflect upside momentum and has room to climb before reaching the overbought zone to indicate buyer exhaustion. RSI has much more ground to cover before indicating overbought conditions, so bullish pressure could stay in play for much longer.

EURUSD could take cues from the US Empire State manufacturing index coming up next, as a downbeat reading might spur a decline for the dollar. A slight improvement is eyed, although the report is still widely expected to reflect industry contraction.

However, it’s also worth noting that the US currency got a boost from safe-haven flows last week, even after the US retail sales turned out weaker than expected.

ECB head Lagarde also has a speech coming up later in the New York session, and additional confirmation that another rate hike is in the cards could mean more upside for the shared currency. On the other hand, cautious remarks highlighting banking sector risks could lead to a larger dip for EURUSD.