EURUSD staged a strong rally following the triangle breakout to retrace 76.4% of the 1.1436/1.0807 fall. The strong momentum favors further strength towards the 200 day moving average currently at 1.1334 next. The immediate support levels are 1.1216/1.1214/1.1189/1.1151 which should contain a potential pullback ahead of renewed push towards the 200 day moving average. However, a break below the 1.1151 area would caution for a deeper setback then.
Outlook:
Short term: bullish
Long term: neutral
Outlook:
Short term: bullish
Long term: neutral
