EUR/USD may rise 16 - 31 pips

Intraday: bullish bias above 1.0845.

Pivot

1.0845

Our preference

Long positions above 1.0845 with targets at 1.0885 & 1.0900 in extension.

Alternative scenario

Below 1.0845 look for further downside with 1.0825 & 1.0805 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.0915

1.0900

1.0885

1.0869 Last

1.0845

1.0825

1.0805

Number of asterisks represents the strength of support and resistance levels.

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