The euro rose to 1.1144, marking a fresh two-month high on Friday before retreating.
The pullback coincides with the resistance level near the 1.1130 level. At the moment, price action is supported from the median line.
But a breakdown below this will signal a correction. We expect the downside in EURUSD to send the currency pair back to the 1.1000 level.
Establishing support back at this level will potentially bolster the case for further gains.
Alternatively, a breakout above 1.1130 could trigger stronger gains.
