The price settled at the strong support zone of 1.183. Expect the price to rise towards a retest of the resistance line around 1.214. The Euro edges closer to the 2021 peak of 1.2348. With the technical landscape tilting higher.
Comment
⋅
EURUSD is trading below the 1.1800 level for the first time since November. . Expect the price to continue falling towards the 1.1720 support zone. Further decline below this level will head towards support at 1.1690. If EURUSD settles above the 1.1989 zone, then bias will shift towards upper channel resistance at 1.214.
Comment
⋅
EURUSD pair has rallied this week north of 1.1941 support zone. However the 1.20 resistance level may prove difficult to break for the bulls. If the bulls succeed then I would set my target to around the 1.2053 level. On the downside if the current rally fails to hold above 1.194 then expect the price to fall back to support at 1.1761