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The single European currency provided positive trading within the expected bullish path, approaching a few points from the first official target at 1.1680 to record the highest level of 1.1670.
Technically, and by looking at the 60-minute chart, we notice the pair is now hovering around the 1.1640 resistance level, 23.60% Fibonacci, and the simple moving averages still holding the pr; on the other hand, stochastic started to provide negative signals.
Despite the conflicting technical signals, we tend to the positive, but cautiously, relying on the stability of the intraday trading above the 1.1600 support level, targeting 1.1690/1.1680 Fibonacci correction 38.20%, a first target that may extend later to visit 1.1720.
Breaking 1.1600 will pressure the price, and we may witness a bearish bias that aims to retest the 1.1540 support level before repeating the attempts to rise again.
| S1: 1.1600 | R1: 1.1680 |
| S2: 1.1540 | R2: 1.1720 |
| S3: 1.1500 | R3: 1.1770 |
