Outlook in EURUSD remains on the upside as long as 1.0766 support holds on a daily closing basis , resistance comes at the 1.1036 levels ahead of the 1.1108/1.1182 levels , a halt is likely but a break would open 1.1285 next , further upside will aim the 1.1480 levels .
On the downside , main support comes at the 1.0766 levels , a failure to hold gains above the 1.0970 levels could mean a return to the 1.0766 levels , a halt is likely , but a clear break below the 1.0766 levels will terminate the last bullish run and restore the downside momentum and bring a lower leg below the 1.0461 levels .
In all , as long as 1.0766 support holds on a daily closing basis , short term outlook in EURUSD remains on the upside towards the 1.1108/1.1182 levels before the next possible fall , below the 1.0766 levels will restore the downside momentum and open the 1.0580/1.0461 levels ..
Note that losing the 1.0889 levels should weaken the current bullish run and build strong pressure on main support at the 1.0766 levels , but member , as long as 1.0766 support holds on a daily closing basis , a higher leg above the 1.1036 levels couldn’t be ruled out……….
Support and resistance : 1.0461 , 1.0580 , 1.0766 (main) , 1.0970 , 1.1036 , 1.1108 , 1.1182 (main) ,1.1285, 1.1480
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