The downward momentum for the EURUSD was halted last Friday. Level which have done it is 1.0570. In this region is lower limit of the triangle formation, which EURUSD forms from February 2015.
Effective reflection of the EURUSD level of 1.0570 could mean the start of a new upward impulse towards 1.1470. If this happens the next resistances are at levels: 1.0720, 1.0820, 1.0960, 1.1140, 1.1280, 1.1470. However, if the specified level isn’t stopped by the supply, then not much lower around 1.0500 is located strong support, which is the area of lows of 2015.
This means that the EURUSD reached the zone of strong support levels and breaking easily of this region is very unlikely. Especially if we take into account the dynamics of declines that have occurred in the last two weeks, and the absence of any correction at that time .
