- The pair remains sidelined so far this month, with the upper bound of the range limited by the strong resistance in the mid-1.1800s.
- Initially, EUR/USD needs to regain 1.1750 and the base of the cloud in a sustainable note to allow a test of 1.1790, or July tops. If cleared, the next target will be the critical hurdle at June’s peak at 1.1853.
- Looking south, the 10-day SMA at 1.1680 and the 21-day SMA should offer interim contention ahead of last week’s low around 1.1575.
- A breakdown of the support area should pave the way for another visit to 2018 lows in the proximity of 1.1500 the figure.
Daily high: 1.1700
Daily low: 1.1665
Support Levels
S1: 1.1655
S2: 1.1623
S3: 1.1592
Resistance Levels
R1: 1.1718
R2: 1.1749
R3: 1.1781
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