Slobodan Drvenica
Windsor Brokers
EUR/USD
EURUSD is holding within a narrow congestion, capped by Fibo resistance at 1.0933 (Fibo 61.8% of 1.1139/1.0601), as markets slowed ahead of key release this week – US inflation report.
German ZEW economic sentiment (July f/c 32.6 vs June 41.8) due in a while, would also impact Euro’s sentiment.
Technical picture is predominantly bullish on daily chart (strong positive momentum / 10-20DMA bull-cross), but firm break of 1.0933 pivot is required to revive larger bulls after consolidation and expose key barriers at 1.1000 zone (psychological / Fibo 76.4%) where the action faced strong upside rejection last week.
Near-term bias is expected to remain bullish above rising 10DMA (1.0901), guarding lower pivots at 1.0882/70 (20DMA / broken 50% retracement) loss of which would weaken near term structure and risk further drop.
Res: 1.0933; 1.0945; 1.0962; 1.1000.
Sup: 1.0901; 1.0882; 1.0870; 1.0832.
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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