FX.co ★ Daily analysis of EUR/USD for June 29, 2016

Overview

The EURUSD traded positively this morning testing 1.1100 levels, but it returned to fluctuate below 1.1067 again. It shows the need for enough positive momentum that will confirm a breach of the mentioned level followed by pushing the price to more gains. In general, we still expect the bullish trend for today as long as the price is above 1.1025 as a break of this level represents a negative factor that will push the price to test 1.0937 levels again before any new attempt to rise. We remind you that the first awaited target of the current bullish wave is located at 1.1196. The expected trading range for today is between the 1.1000 support and the 1.1196 resistance.