Finally the EURUSD has managed to find support after this month’s fall. Level 1.17107 happened to be this support level. Our analysts have seen price gain momentum where it last found resistance at level 1.19952. Price faced difficulties breaking past level 1.9794. However it has become a support now in time of this writing and trades just above it.
The Euro has been on a strong run as well as other G10 currency pairs for the month. We will be forecasting the other correlated pairs . Since the economy of the euro is fast recovering from the pandemic covid19.
We believe that If price retraces back to this support level and breaks past it. Then level 1.18604 will be exposed. Thus If we see the pair break the recent resistance level 1.19952, then we could see the pair form new highs. Possibilities are it could even break past its 2021 higher high which is above level 1.23480. We think that price has strong bullish potential.
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