Today’s EUR/USD session is very interesting. We saw dynamic break above resistance which stopped upward movement for 3 weeks. Price reached 1.1370 and after its break should reach the next resistance at 1.1450.
Let me remind analysis that I prepared on October 2nd: “If break above 1.1290 will be successful the next target of upward move is the level 1.1330. Another resistances are on levels 1.1370, 1.1450”. If the level 1.1370 triggers a rebound decreases may be stopped at the level 1.1350. On this level we can find upper channel limit which was broken today and in which EURUSD moved from 22 September. Alternatively, the weakness of the bulls will cause return to the channel range and tests of supports levels 1.1240, 1.1170, 1.1100.
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