Talking Points:
- EUR/USD Technical Strategy: Flat
- Support: 1.1335, 1.1257, 1.1130
- Resistance:1.1463, 1.1565, 1.1668
The
Euro continues to push upward, issuing the strongest close in three months against the
US Dollar. A daily close above the 38.2% Fibonacci expansionat 1.1463 exposes the 50% level at 1.1565. Alternatively, a turn below the 23.6% Fib at 1.1335 opens the door for a challenge of the 14.6% expansion at 1.1257.The absence of a defined bearish reversal signal suggests that taking up the short sidein line with our
long-term outlookis premature. With that in mind, we will continue to stand aside until a more actionableopportunity presents itself.
