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- 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 1.06404.
- 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
