The Euro stands at the front foot and accelerates higher in early European trading, following narrow consolidation in Asia. Bulls remain in play after Tuesday’s dip to 1.1652 proved short-lived as probe through key barrier at 1.1753 (falling 20SMA/50$% retracement of 1.1996/1.1509) maintains bullish bias. Strong momentum studies also support the advance. Sustained break above 1.1753 pivot would open next key barrier at 1.1810 (Fibo 61.8%), reinforced by falling 30SMA (1.1827). Doji reversal pattern is forming on weekly chart and could further boost recovery rally from 1.1509 (29 May low). Rising 5SMA (1.1705) underpins today’s action and marks solid support which is expected to hold and guard lower pivot at 1.1675 (10SMA).
Res: 1.1776, 1.1810, 1.1827, 1.1881
Sup: 1.1705, 1.1681, 1.1671, 1.1652
