EUR/USD may rise 29 - 42 pips

Our pivot point stands at 1.0802.

Our preference

Look for a drop towards 1.0802 before a bounce.

Alternative scenario

Below 1.0802, expect 1.0781 and 1.0768.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0827 and 1.0823).

Supports and resistances

1.0895 **

1.0883 *

1.0870 **

1.0857

1.0828 last

1.0810

1.0802 **

1.0781 *

1.0768 **

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