EURUSD breaches an important support - Technical Analysis - 10-02-2016
EURUSD scaled higher in the intraday levels, breaching the resistance of 1.1256, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the short term (from 1.1713 to 1.0517), with ongoing positive support from the SMA for the last 50 days period, opening the door more gains in the coming trading.
Therefore we reaffirm our positive outlook for the pair, targeting the resistance of 1.1430, as long as it remains above the level of 1.1256.
Trend
Bullish