On the last Friday’s session the EURUSD rallied with a wide range and closed near the high of the day, in addition the currency pair managed to close above Thursday’s high, which suggests a strong bullish momentum.
The currency pair is now trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1976, other daily resistance at 1.1829, the 10-day moving average at 1.1794 (support), a daily support at 1.1753, a daily support at 1.1460 and other daily support at 1.1556.
On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day however the currency pair closed within Friday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1976, other daily resistance at 1.1829, the 10-day moving average at 1.1780 (resistance), a daily support at 1.1753, a daily support at 1.1460 and other daily support at 1.1556.
The single currency recorded a decline against the US dollar on Monday. The session started at 1.1820 and, after a steady downward movement, the euro ended at 1.1779. If the price continues to fall, the pair will head for support at 1.1700. On the upside, we can expect a resistance break at 1.1860.
Euro / dollar made a downward correction yesterday, forming a bottom at 1.1769. Expectations are neutral so far, but basically I stay in the Bulls camp and only a clear break back below 1.1650 should break the bullish scenario.
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