Overview:
The EURUSD's support had been broken and it was turned to resistance around the price of 1.3090 yesterday. Therefore, the pair has already formed a strong resistance at 1.3090. Moreover, after it could close above 1.3100 and the pair started signing for bullish market, it should also be note that the price has still been trapped between 23.6% Fibonacci Retracement levels and 38.2%. As well the RSI and the last strong support (around the double bottom (1.2970) on H1 chart) are still calling for uptrend at this level. So the market indicates a bullish opportunity on the level of 1.2970 on the H1 chart with a first target of 1.3080 (the weekly pivot point: 1.3084), and continues towards 1.3100 today. However, in case reversal takes place and the EUR/USD pair breaks through the support level of 1.2970, the market will lead to further decline to 1.2880.
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