The Euro rose to two-month high on Thursday, inflated by dovish Fed, while eventual close above key Fibo barrier and trendline resistance (1.2102/10) on Wednesday generated positive signal and added to bullish stance.
Fresh bulls eyes targets at 1.2197/1.2242 (Fibo 76.4% of 1.2349/1.1704 / Feb 25 high) but gradual advance along rising upper 20-d Bollinger band (currently at 1.2178) is more likely.
Repeated close above 1.2102/10 pivots is needed to confirm bullish signal, but sideways-moving momentum studies suggest that near-term action may pause again before continuing higher.
A higher base at 1.2053 is reinforced by 100DMA and marks key support.
Res: 1.2149, 1.2178, 1.2197, 1.2242
Sup: 1.2110, 1.2102, 1.2053, 1.2026
