EUR/USD: daily update
Although EUR/USD renewed lows on Friday sliding to $1.2796, euro started new week with the move to the upside rising from $1.2840 to $1.2880 after initial dip to $1.2820.
The bulls may push EUR a bit higher. However, resistance a $1.2935 might limit the upside. The loss of support might bring the pair to $1.2770, but we don’t expect sharp falls below $1.2750.
In the absence of important economic releases, we’d recommend waiting for a higher entry into shorts. This strategy will be revised only if EUR/USD rises above $1.2940 – in this case a return to $1.2980/3000 will be possible.
Chart. Daily EUR/USD