Euro is picking up some momentum since Europe opening, after reaching extreme oversold conditions falling to 1.2660 in Asian session. Crossing the 20 SMA to downside up, and with momentum slightly bullish, pair seems heading towards 1.2730/40 static resistance area: the level has been quite strong both sides of the market, so clearly above it, from 1.2745 or so, pair could resume past week bullish trend and approach to 1.2770/80 zone; once above, 1.2810 is next.

To the downside, lose of daily low, mentioned 1.2660, should turn the pair intraday bearish, with next target support around 1.2600/20.

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