EURUSD – extension of recovery rally turns n/t focus higher
|EURUSD
The Euro extends rebound from post-Fed low at 1.1861, with fresh acceleration higher on Friday being triggered by renewed geopolitical tensions over North Korea that put the greenback under pressure and sidelined positive impact from Fed.
Bullish signal was generated on Euro's return above daily Tenkan-sen (1.1935) which now acts as support.
Near-term focus shifted higher again, as the pair is on track for full retracement of post-Fed fall from 1.2033.
Sustained break above 1.2000 barrier is required to confirm bullish scenario, with weekly close above here to generate further positive signals as the pair is on track for bullish weekly close.
Alternatively, failure to clear 1.2000 barrier would keep the downside vulnerable, but return and close below daily Tenkan-sen is needed for stronger bearish signal.
Res: 1.1900; 1.1926; 1.1967; 1.1994
Sup: 1.1963; 1.1935; 1.1900; 1.1861
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