The Euro regained traction and moved higher in early Europe after dipping to 1.1741 on US/NK summit news.
Fresh strength probes again through falling 30SMA (1.1789) after attempts in past three days failed to close above and generate bullish signal.
The pair remains within the range for the fourth consecutive day and lacking firmer direction signal which could be expected on break of either range boundary (1.1727/1.1839).
Dollar’s rally on optimistic expectations from US/NK summit made so far limited negative impact on the Euro, keeping initial bullish bias intact for now.
Daily techs remain in bullish setup and favor final break and close above pivots at 1.1789/1.1810 (30SMA / Fibo 61.8% of 1.1996/1.1509) to generate fresh bullish signal for the continuation of bull-leg from 1.1509 (29 May low).
Formation of 10/20SMA bull-cross (1.1735) gives bulls fresh boost and reinforces key support at 1.1727, loss of which would activate an alternative scenario and shift near-term focus lower.
Res: 1.1803, 1.1839, 1.1881, 1.1938
Sup: 1.1753, 1.1735, 1.1727, 1.1695
