Technical outlook:
EUR/USD is seen to be trading around 1.0830 levels at this point in writing and is expected to rally towards 1.0900/30 levels. The single currency pair is consolidating since last several trading sessions and is expected to break higher soon. As discussed earlier, the upside targets for EUR/USD remain around 1.1500, which is strong resistance. Overall structure favors bulls until 1.0636 lows are in place and we can expect a series of higher highs and higher lows going forward. Please note that interim support remains at 1.0768, while resistance is around 1.1000 levels. A break on either side of the consolidation would trigger sharp price action. Probabilities remain for a north side breakout, and a push above 1.1000 levels would confirm.
Trading plan:
Remain long, stop at 1.0636, target is 1.1500
Good luck!
