EURUSD prepares to attack key resistance – Technical Analysis – 07-10-2015

The EURUSD pair rose yesterday after consolidating above 1.1180 support, which represents 61.8% Fibonacci for the short term bullish wave –from 1.0847 to 1.1715-, which allowed it to gather positive momentum among the domination of the main bullish trend that moves within the clear bullish trend line, supported by the moving average 50, getting back to attack the key resistance 1.1280 that represents 50% Fibonacci level.

Therefore, we expect more rise in the upcoming trading, targeting 1.1382.