EURUSD – continuation of Thursday’s rally eyes targets at 1.1965/1.2000
The Euro holds firm tone on Friday and probes above the high of Thursday’s strong rally at 1.1932, with the downside being contained by broken Fibo 61.8% point at 1.1886.
Scope is seen for push through 1.1965 barrier (Fibo 76.4% of 1.2092/1.1553 descend) for the final stretch towards psychological 1.2000 barrier.
Strong performance in November left long bullish monthly candle (after two previous months in red) supporting scenario for full retracement of 1.2092/1.1553 pullback.
Larger bulls remain intact after correction from 1.2092 left higher base at 1.1820 zone.
Rising 10SMA continues to track advance and offers support at 1.1850 which is expected to limit downticks.
Res: 1.1965; 1.2000; 1.2033; 1.2092
Sup: 1.1886; 1.1850; 1.1820; 1.1808