Euro Based on Support

The European single currency continues attempts to maintain positive stability against the US dollar and is able to settle above the strong support floor of 1.1720, Fib 23.60%, which is considered the key to protecting the upside.

Technically, looking at the 4-hour chart, we find that the simple moving average continues to hold the price with the intraday trading stable above 1.1765, and generally above 1.1720.

Consequently, we will keep our positive view, knowing that the confirmation of the euro breaking the 1.1825 resistance is a catalyst that strengthens the chances of a bullish move towards 1.1870 as a first target, followed by 1.1920.

Activating the bullish scenario depends on the price remaining above 1.1720, and breaking it will negate the attempts to rise and put the price under negative pressure with an initial target of 1.1620.

S1: 1.1765	R1: 1.1825
S2: 1.1720	R2: 1.1870
S3: 1.1665	R3: 1.1920