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The euro is quietly trading on the positive side against the US dollar within the expected bullish path mentioned in the previous analysis, touching the first target required to be achieved 1.1820.
On the technical side today, we tend to the positive, relying on the pair’s continuing positive stimulus from the 50-day moving average, which comes in conjunction with the positive signals on the RSI.
Therefore, we will maintain our positive outlook towards the second target of the previous report at 1.1880, 61.80% Fibonacci, as shown on the chart.
Activating the bullish scenario suggested above requires the price to remain above the 1.1750 support level, and breaking it puts the price under negative pressure, targeting 1.1700 initially.
| S1: 1.1750 | R1: 1.1835 |
| S2: 1.1700 | R2: 1.1885 |
| S3: 1.1665 | R3: 1.1940 |
