The EURUSD maintained a bullish momentum , printed a new support at the 1.3461 levels last week , this development leaves the pair targeting the 1.3577 levels where a breach is likely, If seen, it will target the 1.3711 levels, where a breach will turn focus on the 1.3785 levels, further upside with aim the 1.3870 levels.
On the downside, If 1.3461 fails on a daily closing basis, expect the market to weaken towards the 1.3325 levels, further downside will aim the 1.3243 levels ahead of the 1.3104 levels.
In all, the pair will remain biased to the upside as long as 1.3461 holds on a daily closing basis with risk towards the 1.3577 levels ahead of the 1.3711 levels, losing the 1.3461 levels will confirm short term topping and might bring reversal to the downside.
Support and resistance levels: 1.2660, 1.2745 , 1.2922 , 1.2992 , 1.3066, 1.3104 (main) , 1.3243 , 1.3324 ,1.3385 , 1.3461 (main), 1.3577 , 1.3710 , 1.3785 , 1.3870, 1.4246
(Trend strength – daily chart )
- Bullish: above 1.3461
- Neutral: below 1.3461
- Bearish: below 1.3104
EURUSD – Daily Chart