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The single currency managed to achieve the positive outlook that we expected in the previous analysis, by touching the first target 1.1770s, to hit the highest level at 1.1797.
Technically speaking, with the pair being able to build on the previously broken resistance level that turned into support of 1.1720, Fib 23.60%, as seen on the chart, we find that the simple moving averages continue to hold the price.
We will maintain our positive view, noting that breaking 1.1800 will open doors towards 1.1825, followed by 1.1865, and the target may extend later to 1.1920 levels.
On the downside, and with the return of trading below 1.1720, this negates the bullish attempt scenario and puts the pair under negative pressure, its first targets are at 1.1665, while the official target at 1.16620.
| S1: 1.1720 | R1: 1.1825 |
| S2: 1.1675 | R2: 1.1860 |
| S3: 1.1640 | R3: 1.1915 |
