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The pivotal support levels mentioned during the previous analysis, located around 1.1820, were able to limit the bearish bias, within the scenario of re-testing the required support.
technically, Euro seen rising again, benefiting from the aforementioned support levels, and the pair is now hovering around the 1.1880 resistance level.
Looking at the 240-minute chart, we find the 50-day moving average that hold the price and supports the bullish bias. This coincides with the positive signs of the RSI indicator on short time frames.
From here, we believe that there is a possibility to continue the upside targeting the extended resistance 1.1910 / 1.1930, bearing in mind that the breach of 1.1940 maximizes the pair’s gains, so that the way is directly open towards 1.1970.
A reminder that activating the suggested scenario depends on holding above 1.1820, and breaking it will stop any attempts to rise and put the price under negative pressure, targeting a re-test of 1.1720, Fib 23.60%.
| S1: 1.1815 | R1: 1.1910 |
| S2: 1.1765 | R2: 1.1940 |
| S3: 1.1720 | R3: 1.1975 |
