EUR/USD may rise 29 - 44 pips

Pivot

1.0805

Our preference

Long positions above 1.0805 with targets at 1.0845 & 1.0860 in extension.

Alternative scenario

Below 1.0805 look for further downside with 1.0785 & 1.0770 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.0885

1.0860

1.0845

1.0816 Last

1.0805

1.0785

1.0770

Number of asterisks represents the strength of support and resistance levels.