The Euro eases from new 2 –1/2 month high (1.2176) as traders collect some profits from massive rally on Thu/Fri, with Friday’s 0.87% advance marking the biggest one-day rally in 2021.
Weekly close above important Fibo barrier at 1.2102 (61.8% of 1.2349/1.1704), where bulls were trapped last week, generated strong bullish signal.
Next targets at 1.2197/1.2242 (Fibo 76.4%/Feb 25 spike high) are in focus, with shallow dips to be ideally contained by broken Fibo 61.8% and broken bear-trendline at 1.2102/1.2084, to keep bulls intact.
Res: 1.2176, 1.2197, 1.2242, 1.2272
Sup: 1.2126, 1.2102, 1.2084, 1.2048
