EUR/USD may rise 19 - 28 pips

1.0712 is our pivot point.

Our preference

The upside prevails as long as 1.0712 is support.

Alternative scenario

The downside breakout of 1.0712 would call for 1.0697 and 1.0688.

Comment

The RSI is above its neutrality area at 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 1.0714 and 1.0707).

Supports and resistances

1.0771 **

1.0762 *

1.0753 **

1.0744

1.0725 last

1.0718

1.0712 **

1.0697 *

1.0688 **

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