Technical outlook:
EURUSD is trading around 1.0856 at this point of writing after printing intraday lows at 1.0829 yesterday. As seen on the chart here, prices had broken out of resistance trend line earlier and managed to print highs at 1.0927. The recent boundary is located between 1.0768 and 1.0927 and EURUSD has bounced off the Fibonacci 0.618 retracement at 1.0829. Prices are likely to stay above 1.0768 and push higher towards 1.1090 levels. Immediate resistance is seen at 1.1039 and a break higher should encourage bulls to push further. Please note that the overall structure still remains bullish with 1.0636 support intact. It is pointing a push towards 1.1500 resistance in the medium term. Trading point of view, EURUSD remains a good candidate to be bought on dips until prices stay above 1.0636.
Trading plan:
Remain long against 1.0636 target is 1.1500
Good luck!
