- The Euro’s Friday rally has seen the EUR/USD drift into a high-risk turnaround zone with key resistance points scattered from 1.1750 to 1.1790, leaving the major pair open to an extended slide back into recent lows.
- The economic calendar for Monday is a thin affair, and market sentiment is squarely in the driver’s seat.
- Daily candles have the pair constrained in lower highs and higher lows, and traders should keep an eye out for decisive breaks in either direction to determine a new medium-term trend.
| Spot rate: | 1.1735 |
| Relative change: | 0.10% |
| High: | 1.1750 |
| Low: | 1.1720 |
| Trend: | Strong potential for pullback |
| Support 1: | 1.1683 (38.2% Fibo retracement level) |
| Support 2: | 1.1625 (Friday swing low) |
| Support 3: | 1.1574 (previous week low) |
| Resistance 1: | 1.1750 (current day high) |
| Resistance 2: | 1.1790 (two-week high) |
| Resistance 3: | 1.1878 (R3 daily pivot) |
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