On Friday, the euro reached 1.10840 and rebounded towards 1.11280. The short-term technical structure remains still mixed: the return above 1.11700 is positive, even if, from a graphic point of view, only the breakout of the resistance located in the 1.12400 area could provide a new bullish signal of directional type. On the other hand, the holding of the support located in the area 1.10940 to 1.10770 is important as it can favor a re-accumulation phase. On the other hand, the return below 1.10800 was negative, even if a bearish signal will only come with the break of the support placed at 1.09800.
The medium-term analysis confirms the positive trend of the Euro against the Dollar, while by analyzing the short-term chart, a weakening of the prices at the resistance test 1.11840 is highlighted. First support seen at 1.10950. Technically, in the short term, an evolution in the negative direction of the curve towards support in the 1.10450 area is expected.