The Euro is slightly bid in early Thursday’s trading and holding around 1.1600 handle, but so far without significant upside action.
Key barriers at 1.1618/22 (10SMA / Tenkan-sen) are still capping, with break here needed to generate bullish signal for further advance.
Broken bearish flag support line at 1.1648 and broken H&S pattern neckline at 1.1674 are next barriers which guard pivotal 1.1700 resistance zone.
Break here is needed to signal reversal.
On the downside, Fibo support at 1.1510 remains as near-term target, with bearish daily studies keeping focus shifted lower.
No important releases from the Eurozone scheduled today and the single currency is expected to mainly driven by techs.
Res: 1.1622, 1.1648, 1.1674, 1.1690
Sup: 1.1580, 1.1553, 1.1510, 1.1445
