Restoration of Lift in EUR/USD

Technical Reports

The pair lacks an upside impulse. If the entire 1.1582 minor support holds, trading stays on the upside. Following pivot points include: (S1) 1.1626; (P) 1.1654 (R1) 1.1691.

Actual rally should head towards 1.2 handle. Under 1.1582 minor support, trading will turn up in the neutral position and EUR/USD will stage a consolidation. 1.1444 resistance turned support should restrain the downside and lead to the lift restoration.

According to bullish convergence in weekly MACD, the pair has created a significant bottom at 1.0339. Choppy breach of 55 month EMA will align the key fibonacci level at 38.2% retracement of 1.6039 to 1.0339 at 1.2516. The increase from 1.0339 is sustained, but long term uptrend is unlikely. Firm resistance from 1.2516 might bound the upside. If 1.1295 support stands, medium term prognosis stays bullish.