EURUSD is trading around 1.1810. Price remains below recent key highs of 1.1851 and as long as this is the case, price will remain vulnerable to more downside. Breaking above 1.1851 will be an important bullish signal that will push price towards 1.1875 at least if not higher above 1.19.
EURUSD has the potential to make another leg higher. Support is found at 1.1799. Breaking below this level will be a sign of weakness and could push price lower towards 1.1770 or 1.1757 where we find the 61.8% Fibonacci retracement of the entire rise from 1.1765 to 1.1910. Until then bulls continue to have hopes for a bigger bounce towards 1.19.
