• The pair built on its post-FOMC up-move from an important horizontal support and is now holding comfortably above the 1.1800 handle.
• Short-term technical indicators oscillating in positive territory and a move above 200-period SMA on 4-hourly chart clearly points to near-term bullish bias.
• Only a dovish ECB outlook would negate the positive outlook and turn the pair vulnerable to head back towards challenging the 1.1725 support.
Spot Rate: 1.1824
Daily Low: 1.1787
R1: 1.1840 (June 7 swing high)
R2: 1.1897 (R3 daily pivot-point)
R3: 1.1973 (50-day SMA)
S1: 1.1800 (round figure mark)
S2: 1.1773 (daily pivot-point)
S3: 1.1726 (overnight swing low)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.