EUR/USD Technical Analysis: EUR/USD back into July range - 1.1750 next objective

• Bulls are challenging the main bear trend as they broke above key 1.1628 and a multi-month bear trendline. 
• EUR/USD is trading in a bull channel with rising 50, 100 and 200-period simple moving averages suggesting a healthy bullish momentum. While minor pullbacks towards 1.1630 are likely, bulls next objective is to break above 1.1700 in order to reach 1.1750 important key supply level. 
• A sustained bear breakout below 1.1542 would invalidate the bullish momentum. 

EUR/USD 15-minute chart

Spot rate:             1.1661
Relative change:   0.36%  
High:                    1.1665
Low:                     1.1594

Main trend:           Bearish 

Short-term trend: Bullish above 1.1542

Resistance 1:  1.1700 figure
Resistance 2:  1.1750 supply level
Resistance 3:  1.1800 figure

Support 1:   1.1667 August 2 high
Support 2:   1.1654 August 27 high, Asia high
Support 3:   1.1628 August 8 high key level
Support 4:   1.1600 figure
Support 5:   1.1572 July 19 low
Support 6:   1.1542 supply/demand level