Current price: 1.1225
Key point: 1.1180
Our preferred strategy: Buy positions above 1.1180 with a first target of 1.1285 and then a second target of 1.1360.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.1110 level, targeting the 1.1060 level.
Technical commentary
The EUR/USD pair managed to break through the downtrend line from last month's high. If it breaks through the pivotal resistance level of 1.1245, the price is expected to target 1.1285, and then, if it breaks through that level, it will target 1.1360.
