Euro Managed to Retest Support

The euro continues trading within an upward path, maintaining positive stability above 1.1800, a few points shy from the target of 1.1880, to hit a high of 1.1870.

Technically, with the pair succeeding in retesting 1.1800, in addition to the positive stimulus of the 50-day moving average.

This encourages us to hold onto our positive expectations towards the extended resistance 1.1920 / 1.1900 as a first target, bearing in mind that confirming the recent breakout extends the pair’s gains, and we will be waiting for 1.1970.

To the downside, returning to trading below 1.1800 delays the bullish chances but does not negate it, and we may witness negative pressure targeting 1.1720, Fib 23.60%.

In general, we expect the upside move in the near term as long as trading is stable above 1.1720.

S1: 1.1800	R1: 1.1880
S2: 1.1765	R2: 1.1925
S3: 1.1720	R3: 1.1970