EUR/USD: First Resistance At 1.1180/90
Jason Sen | Jun 22, 2017 02:23AM ET
EUR/USD first resistance at 1.1180/90 is likely to be the strongest of the day and we should exit longs just below here in case we don't make it. Shorts need stops above 1.1225. A break above here is required for a clearer recovery path towards 1.1250/55 before the 1.1295/99 November high. This will need to be broken for further bullish confirmation. A break above 1.1300 is a buy signal confirmation targeting the September high at 1.1326 and August high at 1.1360/65.
First support again at 1.1120/10 but be warned, we could continue lower today targeting the best support for the day at 1.1070/60. Try longs with stops below 1.1030. An unexpected break lower however sees 1.1060/70 act as resistance to target 1.0999/94.
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