EUR/USD may rise 29 - 43 pips

1.0803 is our pivot point.

Our preference

The upside prevails as long as 1.0803 is support.

Alternative scenario

The downside breakout of 1.0803 would call for 1.0780 and 1.0767.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0803 and 1.0791). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0818).

Supports and resistances

1.0892 **

1.0878 *

1.0865 **

1.0851

1.0822 last

1.0812

1.0803 **

1.0780 *

1.0767 **

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