Euro Testing Critical Resistance Zone

Euro is testing major technical resistance this week at the yearly high-week close (HWC) / 61.8% retracement of the 2023 decline at 1.0942/60. Risk for possible exhaustion / price inflection into this zone.

Key weekly support now at the objective monthly open near 1.07013.

Bottom line: we're looking for a breakout of this range in the weeks ahead for guidance with the immediate advance vulnerable while below this technical hurdle.

Michael Boutros
MBForex