EUR/USD may rise 20 - 40 pips

Pivot

1.0730

Our preference

Long positions above 1.0730 with targets at 1.0760 & 1.0780 in extension.

Alternative scenario

Below 1.0730 look for further downside with 1.0715 & 1.0695 as targets.

Comment

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

Supports and resistances

1.0800

1.0780

1.0760

1.0740 Last

1.0730

1.0715

1.0695

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