During the previous trading day, Eur declined in price but is still above a key support zone 1.1705-1.1672. Unless there's a clear bullish breakout below this support, I expect a rejection from this zone to buy Eur with an ideal take profit fixed at 1.2065. On its way upwards, key lines can be seen around 1.1905, 1.1985 and lastly 1.2065. Should these lines be broken, the the price may rise even higher towards 1.21. On the other side, If this zone (1.1705-1.1672) is broken, then the price could decline further towards 1.150.
Technical Levels
Resistance levels
R1: 1.1929
R2: 1.2043
R3: 1.2263
Pivot
1.1823
Support Levels
S1: 1.1383
S2: 1.1603
S3: 1.1709
Trade Signal
Look for a clear buy signal around 1.1705-1.1672 to buy Eur towards 1.2065
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