Current price: 1.1570
Key point: 1.1550
Our preferred strategy: Buy positions above 1.1550 with a first target of 1.1620 and then a second target of 1.1670.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.1530 level, targeting the 1.1450 level.
Technical commentary
The EUR/USD pair managed to break through the pivotal resistance level of 1.1550 and then retest it, breaking through the downtrend line of this month. Continued upward movement towards 1.1620 and then 1.1670 is expected.
