Current price: 1.1610

Key point: 1.1600
Our preferred strategy: Buy positions above 1.1600 with a first target of 1.1660 and then a second target of 1.1720.

Alternative scenario: Stop loss and trend reversal upon breaking the 1.1590 level, targeting the 1.1500 level.


Technical commentary
The EUR/USD pair rose from the support level of 1.1500 and is now attempting to break through the downtrend line from last month's high. If it breaks through the resistance level of 1.1620, the pair will then head towards the levels of 1.1660 and then the levels of 1.1720.