Overview :
The EUR/USD pair continues to move upwards from the level of 1.0552.
Today, the first support level is currently seen at 1.0552, the price is moving in a bullish channel now.
Furthermore, the price has been set above the strong support at the level of 1.0552, which coincides with the 23.60% Fibonacci retracement level. This support has been rejected three times confirming the veracity of an uptrend.
According to the previous events, we expect the EUR/USD pair to trade between 1.0552 and 1.0643.
So, the support stands at 1.0552, while daily resistance is found at 1.0643.
Therefore, the market is likely to show signs of a bullish trend around the spot of 1.0552/1.0600.
In other words, buy orders are recommended above the spot of 1.0552/1.060 with the first target at the level of 1.0643; and continue towards 1.0754.
However, if the EUR/USD pair fails to break through the resistance level of 1.0754 today, the market will decline further to 1.0613 so as to test the weekly pivot point.
