Today's support and resistance levels:
R3: 1.6058
R2: 1.6028
R1: 1.6000
Current spot: 1.5981
S1: 1.5961
S2: 1.5935
S3: 1.5903
Technical summary:
We have entered the support-zone between 1.5903 - 1.5958, which we expect will protect the downside for a new rally towards 1.6273. However, it will take a break either below 1.5903 or a break above 1.6273 to break out of the last two months deadlock and get a more clear picture of what has been going on.
Trading recommendation:
We will buy EUR at 1.5925 with a stop at 1.5875.
