The euro continued rising on Friday and reached the upper limit of our estimated range, marked on the weekly chart.
Now you can expect a small rollback, if the price chooses a medium-term development of growth (1.07), or a deeper rollback if a flat trend develops.
The first target of the correction is the support at 1.0205. The daily Marlin Oscillator has charted a downward reversal from the overbought zone. If, nevertheless, the growth continues, then the price will face resistance at 1.0470 – a low on April 28.
The Marlin Oscillator is also turning down on the four-hour chart. Corrective decline may continue below 1.0205, to the range of 1.0100/20, in which the price will also meet with the support of the MACD line.
So, we are waiting for the development of a correction - either shallow or deep.
