EURUSD
Following the rally, we are seeing a minor correction. The smaller the retest the more likely this movement is to help form a trend-confirming pattern. The thin green trendline has not yet been broken, so the potential for further gains remains. If the exchange rate breaks above the thin red downward trend line, it could open up significant upside potential. The target price could then be around the previous high. The thick green trend line, however, is an important support level and could also serve as a risk management level. Currently, the 1.1657 level is worth watching; it must not be broken.
Resistance levels: 1.1841; 1.1962; 1.2085; 1.2207; 1.2329; 1.2451.
Support levels: 1.1657; 1.1597; 1.1475; 1,1352; 1.1230.
