Slobodan Drvenica
Windsor Brokers
EUR/USD
EURUSD continues to trend higher, with minimal negative impact from hotter than expected US PPI data (Jun 0.2% m/m vs 0.1% f/c and 0.0% in May).
The latest bull-leg extends into third straight and day pressuring Thursday’s post US CPI spike high (1.0898) which guards pivotal barriers at 1.0919 (Jun 4), 1.0981 (Mar 8) and 1.10 (psychological).
The pair is also on track for the third consecutive weekly gain, with expectations for further upside, should fundamentals remain favorable.
Broken Fibo 76.4% barrier (1.0857) offers initial support, followed by more significant daily cloud top (1.0835)
Res: 1.0900; 1.0919; 1.0981; 1.1000.
Sup: 1.0857; 1.0835; 1.0821; 1.0800.
Interested in EUR/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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