EUR/USD is making new higher highs after back testing the Kumo (cloud) support and break out area of 1.1650-1.1670. Trend is bullish as long as we trade above the 1.1650 level. Our short-term target is at 1.1875 where we find the 38% Fibonacci retracement of the decline since the March highs.
The EUR/USD pair is trading above the 4-hour Kumo (cloud) support. Price pulled back and tested the upper cloud boundary and bounced strongly off of it. This is a bullish sign. Short-term support is found at 1.17 and 1.1680. Resistance is at 1.1750. A 4 hour close above 1.1750 will open the way for 1.1870.
