- Major resistance - 1.09500 (trend line joining 1.10596 and 1.109925)
- EUR/USD has made a low of 1.0710 previous week and started to recover from that level. It is currently trading around 1.0920.
- Euro is expected to increase in this quarter he weaker oil prices now benefit the euro area relatively more than the US. Thus, an oil price that is set to stay 'lower for longer' boosts the potential for EUR/USD to move higher further out.
- The pair has recovered after making a low of 1.08000. It has closed at the level of 1.09192.
- Any break above 1.09500 will take the pair to next level 1.1000/1.10600/1.1140.
- On the lower side major support is around 1.0870 and break below targets 1.08000/1.0710 level.
- The minor support is around 1.0900.
It is good to buy above 1.0800 with SL around 1.0700 for the TP of 1.1059/1.11400
R1-1.100
R2-1.1060
R3-1.1140
Support
S1-1.0850
S2-1.0800
S3-1.0700
