EUR/USD may rise 25 - 40 pips

Pivot

1.0715

Our preference

Long positions above 1.0715 with targets at 1.0760 & 1.0775 in extension.

Alternative scenario

Below 1.0715 look for further downside with 1.0700 & 1.0685 as targets.

Comment

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

Supports and resistances

1.0795

1.0775

1.0760

1.0735 Last

1.0715

1.0700

1.0685

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