EUR/USD may rise 28 - 48 pips

Pivot

1.0780

Our preference

Long positions above 1.0780 with targets at 1.0830 & 1.0850 in extension.

Alternative scenario

Below 1.0780 look for further downside with 1.0760 & 1.0735 as targets.

Comment

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

Supports and resistances

1.0865

1.0850

1.0830

1.0802 Last

1.0780

1.0760

1.0735

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