The Euro holds in green for the fifth straight day and posted new marginally higher high at 1.1179 (the highest in five weeks) on Monday, as three consecutive bullish weeks also add to positive outlook.
Bulls focus pivotal barrier at 1.1208 (200DMA / Fibo 61.8% of 1.1412/1.0878), but risk of pullback preceding final attack at 1.1208, remaining in play as stochastic is overbought and bullish momentum starting to fade.
Broken 100DMA offers solid support at 1.1137, guarding more significant daily cloud top (1.1107) is expected to hold extended dips and keep bulls in play.
Bulls would be put on hold if pullback penetrates and closes within daily cloud that would risk deeper pullback and expose next pivotal supports at 1.1064 (rising daily Tenkan-sen) and 1.1047 (daily cloud base).
Res: 1.1179; 1.1208; 1.1230; 1.1286
Sup: 1.1149; 1.1137; 1.1107; 1.1064
Interested in EUR/USD technicals? Check out the key levels
- R3 1.1248
- R2 1.121
- R1 1.119
- PP 1.1152
- S1 1.1132
- S2 1.1094
- S3 1.1074
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