EURUSD rose in the intraday levels after settling above the support of 1.1106, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 1.1713 to 1.0500), with ongoing positive pressure from the SMA for the last 50 days period, with the pair reaching the resistance of 1.1250, representing the ratio 61.8%, readying to attack it.

Therefore we expect more gains to come for the pair, especially if it broke through the resistance of 1.1250, targeting thereafter the resistance of 1.1427, representing the ratio 76.4% of the same retracement levels.

Trend Bullish