Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD pair has sensed buying interest after dropping to near 1.0650 in the Asian session. The major currency pair has recovered as the rebound move in the US Dollar Index (DXY) has faded.
EUR/USD,D1
Pivot: 1.0656
Analysis:
While the price is above 1.0600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0656
- Take Profit 1: 1.0800
- Take Profit 2: 1.0900
Alternative scenario:
If the level 1.0600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0600
- Take Profit 1: 1.0465
- Take Profit 2: 1.0370
Comment:
RSI shows the development of an uptrend in the medium term
| Resistance | Support |
| 1.1000 | 1.0600 |
| 1.0900 | 1.0465 |
| 1.0800 | 1.0370 |
