The Euro remains bid in early Monday’s trading despite trade war concerns after G7 failure.
Fresh strength probes through key barriers (55SMA / Fibo 61.8% of 1.1996/1.1509 bear-leg) at 1.1796/1.1810 respectively, after falling 55SMA capped the action in past two trading days.
Recovery leg off 1.1509 (29 May low) made shallow pullback on Friday, with correction being contained by 20SMA at 1.1727, while rising 5SMA (1.1772) continues to underpin recovery.
Rising bullish momentum supports fresh advance, but sustained break above 55SMA is needed to signal recovery continuation.
Extended consolidation cannot be ruled out while 55SMA caps, while increased downside risk could be expected on break and close below 20SMA (1.1728).
Res: 1.1796, 1.1810, 1.1822, 1.1881
Sup: 1.1772, 1.1728, 1.1710, 1.1684
