Current level at 11:30 CET is 1.5506, trading above the daily pivot point level of 1.5454, having tested second resistance at 1.5544 and subsequently retreating. The daily picture reveals evaporating downside momentum with MACD about to cross above the zero line. Bollinger bandwidth is contracting while the 14 day ADX is at 24 and falling. The 1.5615 level is the next immediate upside target, corresponding to the Fibonacci 23.6 percent retracement of the 1.4311 - 1.6017 range. Pivot point related support levels for today are set at 1.5421 and then 1.5364.
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