Euro is Little Changed Against US Dollar

Euro was trading in a narrow sideways range, and its movements against the US dollar did not witness notable change, and the pair maintained the bullish path.

The technical outlook remains unchanged, and with a look at 240-minutes chart, we see that the SMA 50 is providing a positive motive in conjunction with Stochastic attempts to obtain additional momentum.

We tend to be positive with the regular movement inside the ascending price channel, noting that trading above 1.1820 opens the door towards 1.1870 / 1.1865 as initial targets, noting that the rise and stability above 1.1875 keeps the chances of an upside intact targeting next stop of 1.1920.

From the downside, trading below 1.1770 delays the bullish chances but does not negate it, and we may witness a re-test of broken resistance-into-support 1.1720, 23.60% Fib before attempting to rise again.

S1: 1.1770	R1: 1.1845
S2: 1.1720	R2: 1.1875
S3: 1.1675	R3: 1.1920