EUR/USD: 1.1280 |
Back above 1.1300, descending trend resistance at 1.135/60 will act as strong resistance, but a break of which would allow the Euro to head towards the 4 June high at 1.1378, beyond which could see a test of 1.1400 and above, towards the 15 May high at 1.1466.
A return to the downside would see the Euro head back towards the session low at 1.1213 (100 HMA) and to 1.1200, below which would then see supports at minor Fibo levels at 1.1160 and at 1.1115, where the 200 HMA also lies. I don’t think we see it down here today, but if wrong, look for a return to Friday’s lows at 1.1048..
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