Current price: 1.0817
Key point: 1.0725
Our preferred direction: Buy positions above 1.0725 levels with 1.0935 as a first target and then 1.1015 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.0725 level, targeting the 1.0655 levels.
Technical commentary
The EUR/USD pair rose by around 1.00% during last week's trading before closing 0.4% higher before rebounding after its strong rise. The pair managed to rise from the support levels of 1.0695-1.0725, breaking the downtrend line from the top of last December. It is currently targeting 1.0935 levels.
