During yesterday's day, the euro fell to the 1.03900 level, increasing the pressure on this year's support zone. In mid-June, the euro had tested this support zone, from which it managed to consolidate and recover to the 1.06000 level. This morning during the Asian session, the euro consolidated above the 1.04500 level. Now we need a new positive consolidation in order to climb to the 1.05000 level. A break above would open up space for us towards the 1.06000 level, our two-week resistance. For a bearish option, we need a continuation of the negative consolidation and another test of yesterday's support at the 1.04000 level. A break below the euro could bring us down to the 1.03500 level, and if it does not last, we continue lower towards the 1.03000 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.