EURUSD Soaring, Potential Upside

Analysis of EURUSD – EURUSD is displaying bullish pressure after the weakening of the US dollar following the release of CPI data.

Today’s Trading Strategy:

Consider BUYING EURUSD today as long as it doesn’t breach the support area of 1.07666 – 1.07449, with the potential to rise towards the range of 1.09264 – 1.09539.

Alternatives:

A breakthrough below the support area of 1.07666 – 1.07449 might push EURUSD down towards the range of 1.06702 – 1.06537.

Resistance Levels:

• R1: 1.09539
• R2: 1.10087
• R3: 1.10754

Support Levels:

• S1: 1.07449
• S2: 1.06537
• S3: 1.06036