Double Doji in past two days signals that the Euro’s near-term action is directionless and awaiting Fed for stronger signals. The price is moving within tight range around 1.1200 handle and capped by 10SMA in past few sessions.
Daily technicals maintain overall bullish structure, however, risk of deeper pullback is in play and could be triggered on loss of 1.1166 pivot (Friday’s low) which would expose next strong support and breakpoint at 1.1109 (30 May higher low / near Fibo 38.2% of 1.0839/1.1285 upleg).
Conversely, firm break above daily Tenkan-sen / 10SMA (1.1225/31) would generate bullish signal for renewed attempt towards 1.1300 target (08 Nov 2016 high) and extension of broader uptrend from 2017 low at 1.0340.
Res: 1.1225, 1.1231, 1.1285, 1.1300
Sup: 1.1185, 1.1166, 1.1109, 1.1062
