Bulls remain in play but face strong headwinds

The Euro remains constructive in early Monday’s trading following strong advance in past two weeks, but bulls are facing headwinds from pivotal barrier at 1.0767 (50% retracement of 1.1184/1.0349 / falling 55DMA).
Weaker dollar continues to underpin the single currency, along with bullish daily techs (rising positive momentum / multiple bull-crosses formed by 5/10/20/30 DMA’s), but bulls need a break through 1.0767 to signal an extension of near-term recovery towards next strong barriers at 1.0865/78 (Fibo 61.8% of 1.1184/1.0349 / base of falling and thickening daily Ichimoku cloud).
Solid supports at 1.0668/1.0647 (broken Fibo 38.2% / rising 10DMA) should keep the downside protected to maintain near-term bullish bias.

Res: 1.0767; 1.0800; 1.0865; 1.0878
Sup: 1.0725; 1.0668; 1.0647; 1.0607