Taking a look at the EUR/USD forex pair as a possible breakout towards the upside is underway after a few days of consolidation. Currently, the dollar is trading at around $1.1188 against the euro, with the resistance level in focus being $1.1214. A breakout here could set the tone for the next weak as the dollar weakens further, the euro is being supported in the intraday session due to the recently released PCE data. The PCE reading was a little lower than expected, which in theory, should weaken the greenback. Based on the daily chart, failure to break above this resistance in today’s session may see the pair retrace toward the upper trendline. The support along this trendline reads around $1.1100. A break below it could see traders look towards the support of $1.1068 and then $1.1002. Only a break below $1.1002 may suggest that there has been an underlying shift in sentiment. However, looking at the technical indicators, the MACD is just about positive after a few sessions of uncertainty and the RSI has been rising since Wednesday, it’s also bullish as it reads 60