EUR/USD may rise 20 - 40 pips

Pivot

1.0720

Our preference

Long positions above 1.0720 with targets at 1.0760 & 1.0780 in extension.

Alternative scenario

Below 1.0720 look for further downside with 1.0705 & 1.0690 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.0800

1.0780

1.0760

1.0740 Last

1.0720

1.0705

1.0690

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