S1 1.1315 R1 1.1538
S2 1.1270 R2 1.1580
S3 1.1180 R3 1.1623

Last week the EURUSD sold off until 1.1318 resuming though above the uptrend level at 1.1315. There is probability that the market holds and recovers at 1.1580 (Jan high) in the condition of a break above the 1.1620 zone. In contrast, in the event where the price drops the next support is at the 1.1270 November and December lows. Alternatively, in the scenario of a break below the 1.1270 the next level will be the 1.1180 (61.8% Fib).

Technical Analysis

The CCI is close to the oversold territory.
The RSI is close to the neutral territory.

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Christos Nikolaou

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