EUR/USD Moves Higher

Technical Reports

Trading is on the upside for further growth, as bounce from 1.1431 goes on. Trading below 1.1431 will point out resumption of the fall from 1.1814 to low 1.1300. Pivot points are at: (S1) 1.1543; (P) 1.1571; (R1) 1.1623.

While stronger bounce is awaited, upside of recovery should be bounded by resistance zone 1.17799/1814. Trading below minor support 1.1534 will back to the downside.

Overcoming of 1.1300 will point out resumption of the downtrend from 1.2555 to 61.8% retracement of 1.0339 to 1.2555 at 1.1186. Correction from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Break of 38.2% retracement of 1.2555 to 1.1300 at 1.1779 will pave the way to retest 1.0339. Hitting of 1.1814 will widen the correction from 1.1300.