The Euro enters the US session at the front foot as recovery extended in European session and reached high just ticks ahead of key barrier at 1.1341 (Fibo 38.2% of 1.1514/1.1234/last week’s highs.
Fresh risk appetite on trade optimism keeps the Euro supported, along with reversed momentum and north-heading stochastic.
However, bulls need to register close above 1.1341 pivot, to generate reversal signal and open way for further retracement of 1.1514/1.1234 bear-leg.
Caution on negative signals from the EU, which could have negative impact on recovery attempts. Return below 1.13 zone (Fibo 23.6%/rising 5SMA/4-hr cloud base) would neutralize bulls.
Res: 1.1334; 1.1341; 1.1365; 1.1382
Sup: 1.1311; 1.1299; 1.1260; 1.1234
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