The EurUsd rallied yesterday visiting 1.13234, before falling back, and closing, below its monthly trend line in blue. The Parity is currently being traded in a channel inside of a descending triangle. The triangle is on the verge of being rejected, should the parity breach 1.13234. The triangle's objective is 1.08637.
As for the channel, the parity is currently heading towards the top of the channel, which is highlighted on the chart, with re-visiting 1.13234 as an objective, and 1.13021 as a primary objective.
The Blue trend line and its EMAs will represent strong support, as well as 1.12239, which breaching will send it back towards the bottom of the channel.
Breaking out today's critical level around 1.12534 will send the parity south towards the bottom of the channel, with 1.11817 as an objective, and 1.12018 as a primary objective.
The daily Pivot Point is around 1.12787. The daily support levels are around 1.12306 and 1.11863. The daily resistance levels are around 1.13230 and 1.13711.
As for the channel, the parity is currently heading towards the top of the channel, which is highlighted on the chart, with re-visiting 1.13234 as an objective, and 1.13021 as a primary objective.
The Blue trend line and its EMAs will represent strong support, as well as 1.12239, which breaching will send it back towards the bottom of the channel.
Breaking out today's critical level around 1.12534 will send the parity south towards the bottom of the channel, with 1.11817 as an objective, and 1.12018 as a primary objective.
The daily Pivot Point is around 1.12787. The daily support levels are around 1.12306 and 1.11863. The daily resistance levels are around 1.13230 and 1.13711.
