The EUR/USD is expected to trade sideways, but the chance of a break above 1.1265 has increased. Euro, first support is found at the 1.1205 and 1.1175 respectively. A break below the 1.1176 could possibly force the pair as low as 1.1135. In contrast, resistance is found at the 1.1258 level with the closet target at the 1.1320. If daily closing above 1.1258, it would indicate that EUR is ready to move towards the 1.1320. The RSI (DAY) remains at the neutral territory. The CCI (DAY) closed in the overbought territory.

 

 

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Christos Nikolaou

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