EURUSD H1: Bullish outlook seen, further upside above 1.0780

Prices have broken past a key support zone at 1.0880 on the H1 timeframe. A throwback to this support zone, which is in line with the 38.2% Fibonacci retracement, could provide the opportunity to play the bounce to the resistance zone at 1.0900, which coincides with the 50% Fibonacci extension. Prices are holding above the 20 EMA, and MACD is showing bullish momentum while ADX is above 25, supporting our bullish bias.