The EUR/USD remains of the defensive, but the chance of a break above 1.1240 has increased.  EUR, first support is found at the 1.1130 and 1.1110 respectively. A break below the 1.1110 could possibly force the pair as low as 1.1060. In contrast, resistance is found at the 1.1240 level with the closet target at the 1.1299. If daily closing above 1.1240, it would indicate that EUR is ready to move towards 1.1390. The RSI (DAY) remains at the oversold territory. The CCI (DAY) closed in oversold territory.

 

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Christos Nikolaou

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