EUR/USD may rise 24 - 59 pips

Pivot

1.0705

Our preference

Long positions above 1.0705 with targets at 1.0745 & 1.0780 in extension.

Alternative scenario

Below 1.0705 look for further downside with 1.0685 & 1.0665 as targets.

Comment

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

Supports and resistances

1.0805

1.0780

1.0745

1.0721 Last

1.0705

1.0685

1.0665

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