EUR/USD Technical Analysis: Pennant breakout seen in 4h chart

The pennant breakout seen in EUR/USD's 4-hour chart indicates the rally from the March 7 low of 1.1176 has resumed and 1.1363 (76.4% Fib R of 1.1420/1.1176) could soon come into play. As of writing, the spot is trading just below the 4H 200-candle moving average (MA) of 1.1338. 

The bullish case would weaken if the spot falls back into the pennant pattern. 

4-hour chart

Trend: Bullish