- Potential Reversal Zone (PRZ) – 1.07350
- Major Support – 1.0580 (double bottom)
- The pair has formed a bottom at 1.05890 and jumped sharply till 106937 level at the time of writing. It is currently trading around 1.06372.
- EUR/USD has taken support near 38.2% fibo level and break below will drag the pair down till 1.0540 (20- day MA)/1.04800.
- The pair major resistance is around 1.07350 and any break above 1.0735 confirms minor bullishness and a jump till 1.0800/1.08750.
- Short term bearish invalidation only above 1.08735 level.
It is good to buy on dips around 1.0580 with SL around 1.0530 for the TP of 1.06800/1.0720
Resistance
R1-1.0735
R2-1.0800
R3- 1.0875
Support
S1-1.0580
S2-1.0540
S3- 1.0480