The pair traded within a range during the earlier part of the week, but the latest H1 structure shows a strong bullish recovery from the 1.1590 area and a return to the upper boundary of the recent range. EUR/USD is holding near local highs, and as long as the price remains above the Pivot zone, buyers may continue trying to extend the move during the day.
Current price: 1.16465
Pivot: 1.1638
Nearest support levels:
S1: 1.1628
S2: 1.1610
S3: 1.1590
Nearest resistance levels:
R1: 1.1658
R2: 1.1675
R3: 1.1695
Note:
Above Pivot: if the pair holds above 1.1638, the bullish scenario remains in force, with room for a retest of 1.1658. A breakout above this barrier may open the way toward 1.1675 and then 1.1695 later in the day.
Below Pivot: if the price falls back below 1.1638, the recovery may lose momentum and trigger a deeper pullback toward 1.1628. Further pressure below this level may expose 1.1610 and 1.1590.
