EUR/USD may rise 26 - 38 pips

Our pivot point is at 1.0893.

Our preference

As long as 1.0893 is support look for 1.0948.

Alternative scenario

Below 1.0893, expect 1.0871 and 1.0858.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0903 and 1.0841).

Supports and resistances

1.0974 **

1.0961 *

1.0948 **

1.0936

1.0910 last

1.0901

1.0893 **

1.0871 *

1.0858 **

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