Current price: 1.1690
Key point: 1.1670
Our preferred strategy: Buy positions above 1.1670 with a first target of 1.1720 and then a second target of 1.1785.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.1640 level, targeting the 1.1600 level.
Technical commentary
The EUR/USD pair is holding above the key support levels of 1.1670-1.1640, above the upward trend line from the previous month's low, and above the 200-period moving average on the four-hour timeframe. The pair is expected to continue its upward movement towards 1.1720 and then 1.1785.
