Current price: 1.1660
Key point: 1.1645
Our preferred strategy: Buy positions above 1.1645 with a first target of 1.1710 and then a second target of 1.1800.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.1615 level, targeting the 1.1550 level.
Technical commentary
The EUR/USD pair has reached the pivotal support level of 1.1645 and the upward trend line from last month's low. If it breaks through the resistance level of 1.1670, the price will then head towards the levels of 1.1710 and then the levels of 1.1800.
