EURUSD
Over the past week, we’ve seen days of modest gains, which—if they don’t lead to a new swing high—could result in a reversal and a trend break at a lower peak. For this to happen, the pair would need to close below 1.1596. In the long term, 1.1475 could serve as a support level that must hold if we are to look for long positions again later. The natural level at 1.1719 is an important resistance; a break above this level would open the door for further upside. In that case, even this year’s high around 1.2085 could come into play. In the short term, a lower high could trigger a minor pullback, but 1.1475 appears to be a rock-solid support level.
Resistance levels: 1.1719; 1.1841; 1.1962; 1.2085.
Support levels: 1,1475; 1,1352; 1.1230.
