The Euro maintains bullish tone and extends bull-leg from 1.1530 higher base into third straight day.
Bulls pressure psychological 1.1700 barrier, break of which would open next key barrier at 1.1750 (daily cloud top / July’s lower platform / Fibo 38.2% of 1.2476/1.1300).
Monday’s penetration and close within daily cloud (spanned between 1.1658 and 1.1750) was bullish signal, with structure supported by strong momentum and multiple bull-crosses of daily MA’s.
Also, slow stochastic continues to head north, deeply in overbought territory, supporting the advance.
Meanwhile, hesitation at 1.1700 option barrier, may lead into extended consolidation, before bulls resume.
Broken daily cloud base serves as good support (1.1658) and should keep the downside protected to keep bulls in play.
Res: 1.1700, 1.1750, 1.1761, 1.1790
Sup: 1.1658, 1.1615, 1.1579, 1.1529
